Carlsmed (NASDAQ:CARL) Announces Earnings Results, Beats Expectations By $0.01 EPS

Carlsmed (NASDAQ:CARL) announced its quarterly earnings data on Wednesday. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01, FiscalAI reports. Carlsmed had a negative net margin of 57.76% and a negative return on equity of 60.74%. The firm had revenue of $18.94 million during the quarter.

Carlsmed Stock Performance

Shares of Carlsmed stock traded up $0.13 on Wednesday, hitting $13.56. 171,553 shares of the company’s stock were exchanged, compared to its average volume of 142,510. Carlsmed has a 1 year low of $8.50 and a 1 year high of $17.19. The company has a 50-day simple moving average of $11.40 and a 200-day simple moving average of $11.31. The company has a debt-to-equity ratio of 0.17, a quick ratio of 11.67 and a current ratio of 11.88. The stock has a market capitalization of $368.56 million and a PE ratio of -5.40.

Institutional Investors Weigh In On Carlsmed

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CARL. Orbimed Advisors LLC purchased a new stake in Carlsmed in the 3rd quarter worth $16,772,000. Janus Henderson Group PLC lifted its position in shares of Carlsmed by 7.6% in the first quarter. Janus Henderson Group PLC now owns 1,227,452 shares of the company’s stock valued at $11,108,000 after acquiring an additional 86,834 shares in the last quarter. Vanguard Group Inc. bought a new position in shares of Carlsmed in the third quarter worth about $3,042,000. KCM Capital Inc purchased a new stake in shares of Carlsmed during the first quarter worth about $1,810,000. Finally, TD Waterhouse Canada Inc. raised its stake in Carlsmed by 15.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 175,405 shares of the company’s stock valued at $2,154,000 after purchasing an additional 23,163 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Truist Financial dropped their price objective on shares of Carlsmed from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Wall Street Zen lowered shares of Carlsmed from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. The Goldman Sachs Group cut their price target on Carlsmed from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Weiss Ratings cut Carlsmed from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 24th. Finally, BTIG Research reissued a “buy” rating and issued a $23.00 target price on shares of Carlsmed in a report on Wednesday, May 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.75.

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”).