Profound Medical (NASDAQ:PROF) Raised to Hold at Wall Street Zen

Profound Medical (NASDAQ:PROF) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Profound Medical in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.00.

Profound Medical Trading Up 1.0%

PROF opened at $6.07 on Friday. The company has a fifty day moving average price of $5.68 and a two-hundred day moving average price of $5.47. Profound Medical has a 1-year low of $3.76 and a 1-year high of $8.75. The company has a market cap of $183.28 million, a P/E ratio of -4.16 and a beta of 0.67. The company has a current ratio of 8.53, a quick ratio of 7.07 and a debt-to-equity ratio of 0.11.

Profound Medical (NASDAQ:PROF) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.12. The company had revenue of $5.29 million for the quarter, compared to analysts’ expectations of $6.99 million. Profound Medical had a negative net margin of 343.97% and a negative return on equity of 89.74%. Analysts predict that Profound Medical will post -1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. bought a new stake in Profound Medical during the first quarter worth $64,000. TD Waterhouse Canada Inc. boosted its holdings in Profound Medical by 36.3% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 56,073 shares of the company’s stock worth $342,000 after acquiring an additional 14,920 shares during the last quarter. First Eagle Investment Management LLC bought a new stake in shares of Profound Medical in the 2nd quarter worth $720,000. National Bank of Canada FI grew its stake in shares of Profound Medical by 8.4% in the 1st quarter. National Bank of Canada FI now owns 137,126 shares of the company’s stock worth $798,000 after acquiring an additional 10,618 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Profound Medical by 14.3% in the third quarter. Bank of America Corp DE now owns 200,160 shares of the company’s stock valued at $979,000 after purchasing an additional 24,974 shares during the last quarter. Hedge funds and other institutional investors own 47.86% 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.