Carlsmed (NASDAQ:CARL) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of Carlsmed (NASDAQ:CARL) from a hold rating to a sell rating in a research report released on Saturday morning.

CARL has been the subject of a number of other reports. Zacks Research raised Carlsmed from a “strong sell” rating to a “hold” rating in a report on Thursday, March 26th. BTIG Research reaffirmed a “buy” rating and issued a $23.00 target price on shares of Carlsmed in a report on Wednesday, May 6th. Truist Financial dropped their target price on shares of Carlsmed from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Needham & Company LLC began coverage on shares of Carlsmed in a report on Wednesday, July 1st. They set a “buy” rating and a $17.00 price target for the company. Finally, Weiss Ratings upgraded shares of Carlsmed from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Carlsmed has an average rating of “Moderate Buy” and a consensus target price of $18.75.

Carlsmed Trading Down 1.4%

CARL stock opened at $11.66 on Friday. Carlsmed has a 1-year low of $8.50 and a 1-year high of $17.19. The company has a current ratio of 11.88, a quick ratio of 11.67 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $11.21 and its 200-day moving average is $11.40. The firm has a market cap of $316.92 million and a P/E ratio of -4.65.

Carlsmed (NASDAQ:CARL) last posted its earnings results on Tuesday, May 5th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.11. The business had revenue of $16.12 million during the quarter. Carlsmed had a negative return on equity of 60.74% and a negative net margin of 57.76%. Equities analysts anticipate that Carlsmed will post -1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carlsmed

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new position in shares of Carlsmed in the third quarter valued at about $33,000. JPMorgan Chase & Co. bought a new stake in Carlsmed during the 3rd quarter worth about $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Carlsmed in the 3rd quarter valued at about $42,000. Rhumbline Advisers acquired a new stake in Carlsmed in the 3rd quarter valued at about $79,000. Finally, Wells Fargo & Company MN raised its stake in shares of Carlsmed by 61.7% in the fourth quarter. Wells Fargo & Company MN now owns 7,834 shares of the company’s stock worth $97,000 after acquiring an additional 2,989 shares during the last quarter.

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”).