Profound Medical (TSE:PRN) Sets New 12-Month Low – What’s Next?

Shares of Profound Medical Corp. (TSE:PRN) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as C$9.62 and last traded at C$9.70, with a volume of 8305 shares trading hands. The stock had previously closed at C$9.97.

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 Stock Performance

The stock’s 50 day moving average price is C$10.59 and its 200 day moving average price is C$11.35. The company has a debt-to-equity ratio of 16.95, a quick ratio of 14.98 and a current ratio of 8.61. The company has a market capitalization of C$228.15 million, a P/E ratio of -5.61 and a beta of 0.81.

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

Insider Transactions at Profound Medical

In related news, Director Arun Menawat Dr. acquired 20,000 shares of the firm’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$213,000.00. Also, Senior Officer Thomas Michael Tamberrino acquired 13,333 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was acquired at an average price of C$10.65 per share, for a total transaction of C$141,996.45. 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.