Profound Medical (TSE:PRN) Insider Thomas Michael Tamberrino Buys 3,755 Shares of Stock

Key Points

• Insider purchase: Thomas Michael Tamberrino bought 3,755 Profound Medical shares at C$9.44 each, investing C$35,447.20 and increasing his ownership by 7.54% to 53,573 shares.
• Weak financial results: Profound Medical reported a quarterly loss of C$0.37 per share on C$3.53 million in revenue, with a negative net margin of 170.92%; analysts expect a full-year loss of approximately C$1.90 per share.
• Stock and analyst view: Shares fell 1.8% to C$9.03, while analysts maintained a “Moderate Buy” consensus; Raymond James recently upgraded the stock to “strong buy,” with a consensus price target of C$9.03.

Profound Medical Corp. (TSE:PRN - Get Free Report) insider Thomas Michael Tamberrino purchased 3,755 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was purchased at an average price of C$9.44 per share, for a total transaction of C$35,447.20. Following the completion of the transaction, the insider directly owned 53,573 shares in the company, valued at C$505,729.12. This trade represents a 7.54% increase in their ownership of the stock.

Profound Medical Trading Down 1.8%

Shares of TSE PRN traded down C$0.17 during midday trading on Monday, reaching C$9.03. 6,769 shares of the stock were exchanged, compared to its average volume of 16,137. The business has a 50-day simple moving average of C$9.87 and a two-hundred day simple moving average of C$9.36. The company has a debt-to-equity ratio of 14.82, a current ratio of 6.46 and a quick ratio of 14.98. The company has a market capitalization of C$328.13 million, a price-to-earnings ratio of -9.12 and a beta of 1.30. Profound Medical Corp. has a 12 month low of C$5.23 and a 12 month high of C$12.40.

Profound Medical (TSE:PRN - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported C($0.37) earnings per share (EPS) 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%. As a group, equities research analysts expect that Profound Medical Corp. will post -1.9000001 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Raymond James Financial upgraded shares of 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, sixteen have assigned a Moderate Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$9.03.

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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