Carlsmed (NASDAQ:CARL) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of Carlsmed (NASDAQ:CARL) from a hold rating to a strong sell rating in a report released on Wednesday,Zacks.com reports.

Several other research firms have also issued reports on CARL. Truist Financial reissued a “buy” rating and set a $20.00 price target (up from $18.00) on shares of Carlsmed in a research report on Friday, November 7th. Weiss Ratings reiterated a “sell (e-)” rating on shares of Carlsmed in a research note on Monday, December 22nd. Wall Street Zen upgraded shares of Carlsmed from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $20.00 price target on shares of Carlsmed in a report on Friday, January 9th. Finally, BTIG Research reiterated a “buy” rating and set a $24.00 price objective on shares of Carlsmed in a research note on Monday, December 15th. Three analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, Carlsmed currently has a consensus rating of “Hold” and a consensus price target of $21.33.

Carlsmed Stock Performance

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

Carlsmed (NASDAQ:CARL) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.32) earnings per share for the quarter, beating 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 firm had revenue of $15.16 million during the quarter, compared to analyst estimates of $15.20 million.

Hedge Funds Weigh In On Carlsmed

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in Carlsmed in the 3rd quarter valued at about $33,000. JPMorgan Chase & Co. acquired a new stake in shares of Carlsmed in the third quarter valued at approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Carlsmed during the third quarter valued at approximately $42,000. Rhumbline Advisers acquired a new position in shares of Carlsmed during the third quarter worth approximately $79,000. Finally, Wells Fargo & Company MN grew its holdings in Carlsmed by 61.7% in the 4th quarter. Wells Fargo & Company MN now owns 7,834 shares of the company’s stock worth $97,000 after buying an additional 2,989 shares in the last quarter.

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”).