Profound Medical (TSE:PRN) Reaches New 52-Week Low – What’s Next?

Profound Medical Corp. (TSE:PRN) hit a new 52-week low during mid-day trading on Monday . The company traded as low as C$8.66 and last traded at C$9.34, with a volume of 1674 shares changing hands. The stock had previously closed at C$9.28.

Wall Street Analysts Forecast Growth

Separately, Raymond James upgraded shares of Profound Medical to a “strong-buy” rating in a research report on Saturday, November 9th.

Profound Medical Trading Down 0.3 %

The company has a market cap of C$218.12 million, a P/E ratio of -5.37 and a beta of 0.81. The firm’s 50 day moving average is C$10.44 and its two-hundred day moving average is C$11.25. The company has a quick ratio of 14.98, a current ratio of 8.61 and a debt-to-equity ratio of 16.95.

Profound Medical (TSE:PRN) last released its quarterly earnings results on Thursday, November 7th. The company reported C($0.52) EPS for the quarter, missing analysts’ consensus estimates of C($0.42) by C($0.10). During the same quarter in the previous year, the company posted ($0.35) earnings per share. As a group, equities research analysts anticipate that Profound Medical Corp. will post -1.9000001 EPS for the current year.

Insiders Place Their Bets

In other Profound Medical news, Director Arun Menawat Dr. bought 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was acquired at an average price of C$10.65 per share, with a total value of C$213,000.00. Also, Senior Officer Thomas Michael Tamberrino purchased 13,333 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was acquired at an average cost of C$10.65 per share, for a total transaction of C$141,996.45. Company insiders own 8.62% of the company’s stock.

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.