Profound Medical (TSE:PRN) Insider Richard Ringler Fabian Purchases 10,000 Shares of Stock

Key Points

• Insider purchase: Richard Ringler Fabian bought 10,000 Profound Medical shares at an average price of C$8.31, investing C$83,100 and bringing his ownership to 10,000 shares.
• Stock performance and financials: Profound Medical shares rose 2.2% to C$8.36, while the company reported a quarterly loss of C$0.37 per share on C$3.53 million in revenue and continues to have negative profitability metrics.
• Analyst outlook: Raymond James upgraded the stock to “strong buy.” Overall, analysts maintain a consensus “Moderate Buy” rating with an average price target of C$8.36.

Profound Medical Corp. (TSE:PRN - Get Free Report) insider Richard Ringler Fabian purchased 10,000 shares of Profound Medical stock in a transaction on Thursday, September 17th. The shares were acquired at an average cost of C$8.31 per share, for a total transaction of C$83,100.00. Following the completion of the transaction, the insider owned 10,000 shares of the company's stock, valued at C$83,100. This represents a ∞ increase in their ownership of the stock.

Profound Medical Stock Up 2.2%

Shares of TSE PRN traded up C$0.18 during trading on Thursday, reaching C$8.36. 5,417 shares of the stock were exchanged, compared to its average volume of 15,894. The company has a market capitalization of C$305.47 million, a price-to-earnings ratio of -8.44 and a beta of 1.06. The business's 50-day moving average price is C$9.70 and its 200 day moving average price is C$9.31. 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 Corp. has a twelve month low of C$5.36 and a twelve month high of C$12.40.

Profound Medical (TSE:PRN - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported C($0.37) EPS for the quarter. The business had revenue of C$3.53 million for the quarter. Profound Medical had a negative net margin of 170.92% and a negative return on equity of 62.45%. As a group, equities analysts forecast that Profound Medical Corp. will post -1.9000001 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Raymond James Financial raised Profound Medical from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 27th. Five equities research analysts have rated the stock with a Buy rating, nineteen have given a Moderate Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$8.36.

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.

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