Profound Medical (TSE:PRN) Trading Down 1.6% - Should You Sell?

Key Points

• Profound Medical shares fell 1.6% to C$9.39 in midday trading, with volume 42% below the average session volume.
• Analyst sentiment remains positive: Raymond James upgraded the stock to “strong buy,” while the broader analyst consensus is “Moderate Buy” with an average price target of C$9.39.
• The company reported a quarterly loss of C$0.37 per share on C$3.53 million in revenue, alongside a negative net margin of 170.92%; meanwhile, an insider increased ownership by purchasing 3,755 shares.

Profound Medical Corp. (TSE:PRN - Get Free Report)'s stock price fell 1.6% on Tuesday . The stock traded as low as C$9.29 and last traded at C$9.39. Approximately 9,073 shares were traded during mid-day trading, a decline of 42% from the average session volume of 15,715 shares. The stock had previously closed at C$9.54.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial upgraded shares of Profound Medical from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 27th. Six investment analysts have rated the stock with a Buy rating, seventeen have issued a Moderate Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Profound Medical presently has a consensus rating of "Moderate Buy" and an average target price of C$9.39.

Profound Medical Stock Performance

The stock has a market capitalization of C$343.11 million, a PE ratio of -9.48 and a beta of 1.06. The company has a debt-to-equity ratio of 14.82, a quick ratio of 14.98 and a current ratio of 6.46. The firm has a 50 day moving average of C$9.91 and a 200-day moving average of C$9.38.

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

Insiders Place Their Bets

In related news, insider Thomas Michael Tamberrino bought 3,755 shares of the business's stock in a transaction on Monday, August 17th. The stock was bought at an average price of C$9.44 per share, for a total transaction of C$35,447.20. Following the transaction, the insider directly owned 53,573 shares in the company, valued at C$505,729.12. This represents a 7.54% increase in their ownership of the stock. Corporate insiders own 8.62% of the company's stock.

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.

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