Wall Street Zen Downgrades Carlsmed (NASDAQ:CARL) to Sell

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

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

Carlsmed Stock Performance

Carlsmed stock opened at $11.66 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 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 $11.38.

Carlsmed (NASDAQ:CARL) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.11. Carlsmed had a negative return on equity of 60.74% and a negative net margin of 57.76%.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 Trading of Carlsmed

Several large investors have recently modified their holdings of CARL. Orbimed Advisors LLC purchased a new position in shares of Carlsmed in the third quarter worth approximately $16,772,000. Janus Henderson Group PLC increased its holdings in Carlsmed by 7.6% during the first 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 last quarter. Vanguard Group Inc. bought a new position in Carlsmed in the third quarter worth approximately $3,042,000. KCM Capital Inc purchased a new position in shares of Carlsmed during the 1st quarter worth $1,810,000. Finally, TD Waterhouse Canada Inc. grew its position in shares of Carlsmed by 15.2% during 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 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”).