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

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

A number of other equities analysts have also weighed in on CARL. The Goldman Sachs Group decreased their price objective on shares of Carlsmed from $19.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Zacks Research raised Carlsmed from a “strong sell” rating to a “hold” rating in a report on Thursday, March 26th. Needham & Company LLC started coverage on Carlsmed in a research note on Wednesday, July 1st. They issued a “buy” rating and a $17.00 price target for the company. BTIG Research reaffirmed a “buy” rating and set a $23.00 price target on shares of Carlsmed in a report on Wednesday, May 6th. Finally, Weiss Ratings raised Carlsmed from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.75.

Carlsmed Stock Performance

Carlsmed stock opened at $11.66 on Friday. 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 company has a market capitalization of $316.92 million and a P/E ratio of -4.65. The stock’s 50 day moving average is $11.21 and its 200 day moving average is $11.40. Carlsmed has a twelve month low of $8.50 and a twelve month high of $17.19.

Carlsmed (NASDAQ:CARL) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $16.12 million during the quarter. On average, equities research analysts predict that Carlsmed will post -1.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carlsmed

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Orbimed Advisors LLC bought a new stake in Carlsmed in the 3rd quarter worth approximately $16,772,000. Janus Henderson Group PLC lifted its holdings in shares of Carlsmed by 7.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,227,452 shares of the company’s stock valued at $11,108,000 after buying an additional 86,834 shares during the period. Vanguard Group Inc. purchased a new position in shares of Carlsmed in the 3rd quarter worth $3,042,000. KCM Capital Inc purchased a new position in shares of Carlsmed in the 1st quarter worth $1,810,000. Finally, TD Waterhouse Canada Inc. grew its holdings in shares of Carlsmed by 15.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 175,405 shares of the company’s stock worth $2,154,000 after acquiring an additional 23,163 shares during the period.

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”).