Insider Selling: Carlsmed (NASDAQ:CARL) COO Sells $11,317.05 in Stock

Carlsmed, Inc. (NASDAQ:CARL) COO Jeffrey Bertolini sold 747 shares of Carlsmed stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $15.15, for a total transaction of $11,317.05. Following the completion of the transaction, the chief operating officer owned 22,489 shares in the company, valued at approximately $340,708.35. This represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Jeffrey Bertolini also recently made the following trade(s):

• On Friday, October 30th, Jeffrey Bertolini sold 243 shares of Carlsmed stock. The stock was sold at an average price of $15.80, for a total value of $3,839.40.
• On Monday, October 5th, Jeffrey Bertolini sold 747 shares of Carlsmed stock. The stock was sold at an average price of $14.39, for a total value of $10,749.33.
• On Wednesday, September 30th, Jeffrey Bertolini sold 243 shares of Carlsmed stock. The shares were sold at an average price of $13.99, for a total transaction of $3,399.57.

Carlsmed Trading Down 5.2%

Shares of NASDAQ CARL opened at $14.52 on Friday. Carlsmed, Inc. has a fifty-two week low of $8.50 and a fifty-two week high of $17.23. The company’s 50 day simple moving average is $14.92 and its 200 day simple moving average is $12.49. The company has a debt-to-equity ratio of 0.18, a current ratio of 8.84 and a quick ratio of 8.66. The firm has a market capitalization of $396.40 million, a P/E ratio of -10.15 and a beta of 1.97.

Carlsmed (NASDAQ:CARL) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. The company had revenue of $18.94 million during the quarter. Carlsmed had a negative return on equity of 38.06% and a negative net margin of 57.42%. On average, analysts predict that Carlsmed, Inc. will post -1.50 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. BTIG Research lifted their price target on Carlsmed from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Truist Financial increased their target price on shares of Carlsmed from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Carlsmed from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded Carlsmed from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Carlsmed currently has an average rating of “Moderate Buy” and an average price target of $19.50.

Institutional Trading of Carlsmed

A number of institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in Carlsmed by 85.3% during the third quarter. Russell Investments Group Ltd. now owns 257,805 shares of the company’s stock valued at $3,627,000 after buying an additional 118,663 shares in the last quarter. Zevenbergen Capital Investments LLC lifted its holdings in shares of Carlsmed by 50.4% in the third quarter. Zevenbergen Capital Investments LLC now owns 17,900 shares of the company’s stock worth $252,000 after acquiring an additional 6,000 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Carlsmed in the 2nd quarter worth $108,000. Jupiter Topco LLC bought a new position in Carlsmed in the 2nd quarter worth about $12,992,000. Finally, Parkman Healthcare Partners LLC purchased a new stake in Carlsmed during the second quarter valued at about $6,200,000.

About Carlsmed

Carlsmed, Inc is a medical technology company focused on personalized solutions for spine surgery. The company combines patient-specific planning, advanced imaging, software and additive manufacturing to develop implants designed to address the anatomical needs of individual patients.

Its products include the aprevo® patient-specific interbody implant system, which is designed for use in spinal fusion procedures. Carlsmed’s technology is intended to support surgeons in planning procedures and selecting or creating implants that may help restore spinal alignment and improve surgical precision.

Carlsmed serves the spine-care market through relationships with spine surgeons, hospitals and other healthcare providers.