Profound Medical (TSE:PRN) Posts Earnings Results

Profound Medical (TSE:PRN) announced its quarterly earnings results on Thursday. The company reported C($0.37) earnings per share (EPS) for the quarter, FiscalAI reports. Profound Medical had a negative return on equity of 78.75% and a negative net margin of 206.94%.The company had revenue of C$3.53 million during the quarter.

Profound Medical Price Performance

Shares of TSE PRN traded down C$0.11 during midday trading on Thursday, reaching C$11.10. The company’s stock had a trading volume of 9,245 shares, compared to its average volume of 16,062. Profound Medical has a one year low of C$5.23 and a one year high of C$12.40. The company has a market cap of C$403.35 million, a price-to-earnings ratio of -8.95 and a beta of 1.30. The company has a 50 day moving average price of C$9.78 and a 200 day moving average price of C$9.41. The company has a current ratio of 6.56, a quick ratio of 14.98 and a debt-to-equity ratio of 12.56.

Analyst Ratings Changes

Separately, Raymond James Financial upgraded Profound Medical from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, July 27th. Eight investment analysts have rated the stock with a Buy rating, fourteen have assigned a Moderate Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$11.10.

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.