Carlsmed (NASDAQ:CARL) Lowered to Strong Sell Rating by Zacks Research

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

Several other brokerages have also recently commented on CARL. The Goldman Sachs Group reaffirmed a “buy” rating and set a $20.00 price target on shares of Carlsmed in a research report on Friday, January 9th. Weiss Ratings restated a “sell (e-)” rating on shares of Carlsmed in a research note on Monday, December 22nd. Truist Financial reaffirmed a “buy” rating and set a $20.00 target price (up from $18.00) on shares of Carlsmed in a report on Friday, November 7th. Wall Street Zen upgraded Carlsmed from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, BTIG Research reiterated a “buy” rating and issued a $24.00 price target on shares of Carlsmed in a report on Monday, December 15th. Three analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average 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 current ratio of 12.03, a quick ratio of 11.91 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average of $12.64. The company has a market capitalization of $387.15 million and a price-to-earnings ratio of -3.98. Carlsmed has a 12-month low of $10.65 and a 12-month high of $17.19.

Carlsmed (NASDAQ:CARL) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.11. The firm had revenue of $15.16 million for the quarter, compared to the consensus estimate of $15.20 million. Carlsmed had a negative net margin of 58.67% and a negative return on equity of 251.27%.

Hedge Funds Weigh In On Carlsmed

Institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC lifted its holdings in shares of Carlsmed by 6.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 15,800 shares of the company’s stock worth $195,000 after purchasing an additional 1,000 shares during the last quarter. Barclays PLC increased its position in Carlsmed by 10.6% in the fourth quarter. Barclays PLC now owns 10,633 shares of the company’s stock worth $131,000 after buying an additional 1,021 shares during the period. Russell Investments Group Ltd. increased its position in Carlsmed by 0.8% in the fourth quarter. Russell Investments Group Ltd. now owns 160,238 shares of the company’s stock worth $1,979,000 after buying an additional 1,292 shares during the period. BNP Paribas Financial Markets bought a new stake in Carlsmed in the third quarter valued at $33,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Carlsmed during the third quarter valued at $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”).