Carlsmed (NASDAQ:CARL) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Carlsmed (NASDAQ:CARL) from a hold rating to a sell rating in a research note published on Saturday.

CARL has been the topic of several other reports. Weiss Ratings upgraded shares of Carlsmed from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th. Zacks Research upgraded shares of Carlsmed from a “strong sell” rating to a “hold” rating in a report on Thursday, March 26th. BTIG Research reiterated a “buy” rating and set a $23.00 price objective on shares of Carlsmed in a research note on Wednesday, May 6th. The Goldman Sachs Group cut their price objective on shares of Carlsmed from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Finally, Truist Financial lowered their target price on Carlsmed from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Four equities research 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.75.

Carlsmed Trading Down 2.8%

Shares of NASDAQ CARL opened at $11.33 on Friday. Carlsmed has a twelve month low of $8.50 and a twelve month high of $17.19. The firm has a market cap of $307.95 million and a PE ratio of -4.51. The business has a fifty day simple moving average of $11.24 and a two-hundred day simple moving average of $11.37. The company has a quick ratio of 11.67, a current ratio of 11.88 and a debt-to-equity ratio of 0.17.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Orbimed Advisors LLC purchased a new position in Carlsmed in the third quarter worth $16,772,000. Janus Henderson Group PLC grew its stake in Carlsmed by 7.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,227,452 shares of the company’s stock worth $11,108,000 after buying an additional 86,834 shares during the last quarter. Vanguard Group Inc. purchased a new position in Carlsmed during the 3rd quarter worth $3,042,000. KCM Capital Inc acquired a new position in Carlsmed during the 1st quarter valued at about $1,810,000. Finally, TD Waterhouse Canada Inc. raised its stake in Carlsmed by 15.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 175,405 shares of the company’s stock valued at $2,154,000 after buying an additional 23,163 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”).