Carlsmed (NASDAQ:CARL) Announces Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Carlsmed (NASDAQ:CARL) released its quarterly earnings results on Tuesday. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.11, FiscalAI reports. Carlsmed had a negative net margin of 58.67% and a negative return on equity of 72.60%. The company had revenue of $16.12 million for the quarter.

Carlsmed Trading Down 1.9%

NASDAQ:CARL traded down $0.17 during mid-day trading on Tuesday, hitting $8.92. 131,896 shares of the stock traded hands, compared to its average volume of 121,166. The company has a quick ratio of 8.74, a current ratio of 8.87 and a debt-to-equity ratio of 0.16. Carlsmed has a 52 week low of $8.50 and a 52 week high of $17.19. The stock has a market capitalization of $242.89 million and a price-to-earnings ratio of -2.44. The firm’s 50 day moving average is $10.91 and its two-hundred day moving average is $12.25.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CARL shares. Wall Street Zen raised shares of Carlsmed from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Truist Financial decreased their price objective on Carlsmed from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. The Goldman Sachs Group lowered their price objective on Carlsmed from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Finally, Zacks Research raised Carlsmed from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 26th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.67.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC lifted its stake in shares of Carlsmed by 6.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 15,800 shares of the company’s stock worth $195,000 after acquiring an additional 1,000 shares during the last quarter. Barclays PLC grew its position in Carlsmed by 10.6% in the 4th quarter. Barclays PLC now owns 10,633 shares of the company’s stock valued at $131,000 after acquiring an additional 1,021 shares during the last quarter. Russell Investments Group Ltd. increased its stake 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 purchasing an additional 1,292 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Carlsmed during the third quarter worth $33,000. Finally, JPMorgan Chase & Co. purchased a new stake 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”).