Carlsmed (NASDAQ:CARL) Stock Rating Lowered by Zacks Research

Carlsmed (NASDAQ:CARL) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently commented on the stock. Wall Street Zen raised shares of Carlsmed from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings restated a “sell (e-)” rating on shares of Carlsmed in a research note on Monday, December 22nd. BTIG Research reaffirmed a “buy” rating and issued a $24.00 target price on shares of Carlsmed in a report on Monday, December 15th. The Goldman Sachs Group reissued a “buy” rating and set a $20.00 price target on shares of Carlsmed in a report on Friday, January 9th. Finally, Truist Financial reaffirmed a “buy” rating and set a $20.00 price objective (up from $18.00) on shares of Carlsmed in a research report on Friday, November 7th. Three analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $21.33.

Carlsmed Stock Performance

CARL opened at $14.56 on Wednesday. Carlsmed has a one year low of $10.65 and a one year high of $17.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 12.03 and a quick ratio of 11.91. The firm has a market capitalization of $387.15 million and a PE ratio of -3.98. The business’s 50-day moving average price is $12.64.

Carlsmed (NASDAQ:CARL) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.11. Carlsmed had a negative return on equity of 251.27% and a negative net margin of 58.67%.The company had revenue of $15.16 million for the quarter, compared to analyst estimates of $15.20 million.

Institutional Trading of Carlsmed

Several institutional investors and hedge funds have recently modified their holdings of the business. Orbimed Advisors LLC purchased a new position in Carlsmed in the 3rd quarter valued at about $16,772,000. Janus Henderson Group PLC lifted its stake in shares of Carlsmed by 4.4% during the fourth quarter. Janus Henderson Group PLC now owns 1,140,618 shares of the company’s stock valued at $14,087,000 after buying an additional 48,081 shares during the period. Vanguard Group Inc. acquired a new stake in Carlsmed during the third quarter worth approximately $3,042,000. TD Waterhouse Canada Inc. raised its holdings in Carlsmed by 15.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 175,405 shares of the company’s stock valued at $2,154,000 after acquiring an additional 23,163 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in shares of Carlsmed during the 3rd quarter worth $2,343,000.

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”).