Carlsmed (NASDAQ:CARL) Issues Quarterly Earnings Results

Carlsmed (NASDAQ:CARL) issued its quarterly earnings results on Tuesday. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.08, FiscalAI reports. Carlsmed had a negative return on equity of 38.06% and a negative net margin of 57.42%. The firm had revenue of $21.55 million for the quarter.

Carlsmed Stock Down 8.3%

Shares of NASDAQ CARL traded down $1.34 during trading hours on Tuesday, hitting $14.71. 109,230 shares of the stock were exchanged, compared to its average volume of 131,760. The firm has a fifty day moving average price of $14.90 and a 200-day moving average price of $12.51. The company has a quick ratio of 8.66, a current ratio of 8.84 and a debt-to-equity ratio of 0.18. Carlsmed has a 12 month low of $8.50 and a 12 month high of $17.23. The company has a market cap of $401.58 million, a PE ratio of -10.29 and a beta of 1.97.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Truist Financial boosted their target price on shares of Carlsmed from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. BTIG Research raised their price target on shares of Carlsmed from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Carlsmed in a report on Wednesday, November 4th. Finally, Wall Street Zen raised shares of Carlsmed from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Carlsmed presently has an average rating of “Moderate Buy” and a consensus price target of $19.50.

Institutional Trading of Carlsmed

Institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. increased its holdings in shares of 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 acquiring an additional 118,663 shares in the last quarter. Zevenbergen Capital Investments LLC boosted its position in Carlsmed by 50.4% in the third quarter. Zevenbergen Capital Investments LLC now owns 17,900 shares of the company’s stock valued at $252,000 after buying an additional 6,000 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Carlsmed in the second quarter worth $108,000. Jupiter Topco LLC purchased a new position in shares of Carlsmed during the second quarter worth $12,992,000. Finally, Parkman Healthcare Partners LLC acquired a new position in Carlsmed during the second quarter valued at $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.