Profound Medical (TSE:PRN) Announces Earnings Results

Profound Medical (TSE:PRN) issued its quarterly earnings data on Thursday. The company reported C($0.30) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of C$13.99 million during the quarter. Profound Medical had a negative net margin of 170.92% and a negative return on equity of 62.45%.

Profound Medical Trading Down 2.6%

Profound Medical stock traded down C$0.26 during midday trading on Thursday, hitting C$9.64. 9,300 shares of the stock were exchanged, compared to its average volume of 15,673. The stock has a market capitalization of C$352.25 million, a PE ratio of -9.74 and a beta of 1.40. The company has a fifty day simple moving average of C$8.75 and a two-hundred day simple moving average of C$9.25. The company has a quick ratio of 14.98, a current ratio of 6.46 and a debt-to-equity ratio of 14.82. Profound Medical has a 52 week low of C$6.52 and a 52 week high of C$12.40.

Insider Buying and Selling at Profound Medical

In other news, insider Thomas Michael Tamberrino purchased 3,755 shares of the company’s stock in a transaction on Monday, August 17th. The shares were purchased at an average price of C$9.44 per share, with a total value of C$35,447.20. Following the purchase, the insider directly owned 53,573 shares of the company’s stock, valued at C$505,729.12. This trade represents a 7.54% increase in their position. Also, insider Richard Ringler Fabian bought 10,000 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was purchased at an average price of C$8.31 per share, for a total transaction of C$83,100.00. Following the purchase, the insider directly owned 10,000 shares in the company, valued at approximately C$83,100. This represents a ∞ increase in their position. 8.62% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Raymond James Financial raised Profound Medical from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating, sixteen have issued a Moderate Buy rating and six have given a Hold rating to the company. According to MarketBeat, Profound Medical currently has an average rating of “Moderate Buy” and a consensus target price of C$9.64.

Profound Medical Company Profile

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.