Carlsmed (NASDAQ:CARL) Lowered to “Sell” Rating by Wall Street Zen

Carlsmed (NASDAQ:CARL) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other research analysts have also issued reports on the stock. The Goldman Sachs Group dropped their price target on shares of Carlsmed from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. BTIG Research reiterated a “buy” rating and issued a $23.00 price objective on shares of Carlsmed in a research note on Wednesday, May 6th. Zacks Research upgraded Carlsmed from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Truist Financial decreased their price target on Carlsmed from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $19.33.

Carlsmed Trading Down 1.7%

Carlsmed stock opened at $11.42 on Friday. Carlsmed has a 12 month low of $8.50 and a 12 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 $10.55 and a two-hundred day moving average price of $11.86. The stock has a market cap of $310.40 million and a price-to-earnings ratio of -4.55.

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

Institutional Investors Weigh In On Carlsmed

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CARL. Orbimed Advisors LLC bought a new position in Carlsmed in the 3rd quarter worth approximately $16,772,000. Vanguard Group Inc. bought a new position in Carlsmed in the 3rd quarter valued at $3,042,000. KCM Capital Inc acquired a new position in shares of Carlsmed during the first quarter valued at $1,810,000. Russell Investments Group Ltd. acquired a new position in shares of Carlsmed during the third quarter valued at $2,128,000. Finally, Citadel Advisors LLC bought a new position in Carlsmed in the third quarter valued at about $1,473,000.

Carlsmed Company Profile

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”).