Carlsmed (NASDAQ:CARL) Cut to “Strong Sell” at Zacks Research

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

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

Carlsmed Trading Up 15.9%

Shares of NASDAQ:CARL opened at $14.56 on Wednesday. The company has a 50 day moving average price of $12.64. The firm has a market capitalization of $387.15 million and a price-to-earnings ratio of -3.98. 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 has a 52 week low of $10.65 and a 52 week high of $17.19.

Carlsmed (NASDAQ:CARL) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $15.16 million during the quarter, compared to analyst estimates of $15.20 million.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. bought a new stake in shares of Carlsmed during the 3rd quarter worth $2,026,000. Teacher Retirement System of Texas purchased a new stake in shares of Carlsmed during the third quarter valued at $2,343,000. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Carlsmed during the third quarter valued at $736,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Carlsmed in the 3rd quarter valued at $42,000. Finally, JPMorgan Chase & Co. purchased a new position in Carlsmed in the 3rd quarter worth about $37,000.

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”).