Wall Street Zen Upgrades Carlsmed (NASDAQ:CARL) to “Hold”

Carlsmed (NASDAQ:CARL) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other brokerages have also recently commented on CARL. BTIG Research restated a “buy” rating and set a $23.00 target price on shares of Carlsmed in a report on Wednesday, May 6th. Zacks Research raised shares of Carlsmed from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 26th. Truist Financial reduced their price objective on shares of Carlsmed from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Weiss Ratings cut Carlsmed from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, June 17th. Finally, The Goldman Sachs Group lowered their target price on Carlsmed from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $19.33.

Carlsmed Trading Up 4.6%

NASDAQ:CARL opened at $11.76 on Friday. Carlsmed has a twelve month low of $8.50 and a twelve month high of $17.19. The company has a quick ratio of 11.67, a current ratio of 11.88 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average price of $10.70 and a two-hundred day moving average price of $11.54. The company has a market cap of $319.58 million and a P/E ratio of -4.68.

Carlsmed (NASDAQ:CARL) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.11. Carlsmed had a negative net margin of 57.76% and a negative return on equity of 60.74%. The company had revenue of $16.12 million during the quarter. As a group, analysts expect that Carlsmed will post -1.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Carlsmed

Several hedge funds have recently bought and sold shares of CARL. BNP Paribas Financial Markets bought a new stake in Carlsmed in the third quarter valued at approximately $33,000. JPMorgan Chase & Co. bought a new position in shares of Carlsmed during the 3rd quarter worth approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Carlsmed during the 3rd quarter worth approximately $42,000. Rhumbline Advisers acquired a new position in shares of Carlsmed during the 3rd quarter worth approximately $79,000. Finally, Wells Fargo & Company MN raised its stake in Carlsmed by 61.7% in the 4th quarter. Wells Fargo & Company MN now owns 7,834 shares of the company’s stock valued at $97,000 after acquiring an additional 2,989 shares during the period.

About Carlsmed

We are a commercial-stage medical technology company pioneering AI-enabled personalized spine surgery solutions with a mission to improve outcomes and decrease the cost of healthcare for spine surgery and beyond. We are focused on becoming the standard of care for spine fusion surgery. The aprevo Technology Platform consists of artificial intelligence (“AI”)-enabled software solutions, and interbody implants that we custom design for each patient’s unique pathology and vertebral bone topography, and single-use surgical instruments (the “aprevo Technology Platform”).