Carlsmed (NASDAQ:CARL) Price Target Lowered to $17.00 at The Goldman Sachs Group

Carlsmed (NASDAQ:CARL) had its price objective lowered by research analysts at The Goldman Sachs Group from $19.00 to $17.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 75.15% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. BTIG Research reissued a “buy” rating and issued a $24.00 price target on shares of Carlsmed in a report on Monday, December 15th. Weiss Ratings reiterated a “sell (e-)” rating on shares of Carlsmed in a research note on Monday, December 22nd. Zacks Research upgraded shares of Carlsmed from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Wall Street Zen upgraded shares of Carlsmed from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.33.

Carlsmed Stock Performance

Carlsmed stock traded down $0.28 during trading hours on Thursday, hitting $9.71. The company had a trading volume of 15,227 shares, compared to its average volume of 119,126. The firm has a market cap of $259.44 million and a PE ratio of -2.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.87 and a quick ratio of 8.74. Carlsmed has a one year low of $8.86 and a one year high of $17.19. The firm has a 50-day moving average of $11.45 and a 200 day moving average of $12.66.

Carlsmed (NASDAQ:CARL) last released its quarterly earnings results 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. The firm had revenue of $15.16 million for the quarter, compared to analysts’ expectations of $15.20 million. Carlsmed had a negative net margin of 58.67% and a negative return on equity of 72.60%.

Institutional Investors Weigh In On Carlsmed

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new stake in Carlsmed during the 3rd quarter worth $33,000. JPMorgan Chase & Co. bought a new stake in Carlsmed during the 3rd quarter worth $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Carlsmed during the 3rd quarter worth $42,000. Rhumbline Advisers bought a new stake in Carlsmed during the 3rd quarter worth $79,000. Finally, Wells Fargo & Company MN grew its position in Carlsmed by 61.7% during the 4th 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.

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”).