Profound Medical (TSE:PRN) Stock Price Down 1.6% – Should You Sell?

Profound Medical Corp. (TSE:PRN) dropped 1.6% during trading on Tuesday . The company traded as low as C$9.29 and last traded at C$9.39. 9,073 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 15,715 shares. The stock had previously closed at C$9.54.

Analysts Set New Price Targets

Separately, Raymond James Financial raised Profound Medical from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, July 27th. Six research analysts have rated the stock with a Buy rating, seventeen have given a Moderate Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$9.39.

Profound Medical Stock Performance

The stock’s 50-day moving average price is C$9.91 and its 200 day moving average price is C$9.38. The company has a quick ratio of 14.98, a current ratio of 6.46 and a debt-to-equity ratio of 14.82. The company has a market cap of C$343.11 million, a P/E ratio of -9.48 and a beta of 1.06.

Profound Medical (TSE:PRN) last posted its quarterly earnings data on Thursday, August 6th. The company reported C($0.37) earnings per share (EPS) for the quarter. The firm had revenue of C$3.53 million for the quarter. Profound Medical had a negative return on equity of 62.45% and a negative net margin of 170.92%. As a group, research analysts expect that Profound Medical Corp. will post -1.9000001 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Thomas Michael Tamberrino bought 3,755 shares of the business’s stock in a transaction on Monday, August 17th. The stock was purchased at an average price of C$9.44 per share, with a total value of C$35,447.20. Following the transaction, the insider directly owned 53,573 shares in the company, valued at approximately C$505,729.12. The trade was a 7.54% increase in their ownership of the stock. 8.62% of the stock is currently owned by corporate insiders.

About Profound Medical

Profound Medical Corp., together with its subsidiaries, operates as a commercial-stage medical device company that develops and markets incision-free therapeutic systems for the image guided ablation of diseased tissue in Canada, Germany, the United States, and Finland. Its lead product TULSA-PRO system combines magnetic resonance imaging(MRI), robotically-driven transurethral sweeping action/thermal ultrasound and closed-loop temperature feedback control to provide precise, flexible, and durable ablation of a surgeon defined region of prostate and protect the urethra and rectum.