Carlsmed (NASDAQ:CARL) Upgraded at Zacks Research

Zacks Research upgraded shares of Carlsmed (NASDAQ:CARL) from a strong sell rating to a hold rating in a report issued on Thursday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. The Goldman Sachs Group restated a “buy” rating and issued a $20.00 price objective on shares of Carlsmed in a report on Friday, January 9th. Wall Street Zen upgraded shares of Carlsmed from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings restated a “sell (e-)” rating on shares of Carlsmed in a research note on Monday, December 22nd. Finally, BTIG Research reaffirmed a “buy” rating and set a $24.00 price objective on shares of Carlsmed in a research report on Monday, December 15th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Carlsmed presently has an average rating of “Hold” and an average target price of $21.33.

Carlsmed Trading Down 2.0%

Shares of CARL opened at $9.66 on Thursday. The company has a 50-day moving average of $12.01 and a 200 day moving average of $12.94. Carlsmed has a 1-year low of $9.55 and a 1-year high of $17.19. The firm has a market capitalization of $258.23 million and a price-to-earnings ratio of -2.64. 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 (NASDAQ:CARL) last released its 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 company had revenue of $15.16 million during the quarter, compared to the consensus estimate of $15.20 million. Carlsmed had a negative return on equity of 72.60% and a negative net margin of 58.67%.

Institutional Investors Weigh In On Carlsmed

Institutional investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV purchased a new position in Carlsmed in the fourth quarter valued at $187,000. Millennium Management LLC lifted its holdings in Carlsmed by 521.2% during the 4th quarter. Millennium Management LLC now owns 128,970 shares of the company’s stock worth $1,593,000 after buying an additional 108,208 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Carlsmed by 4.4% during the 4th quarter. Janus Henderson Group PLC now owns 1,140,618 shares of the company’s stock worth $14,087,000 after acquiring an additional 48,081 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Carlsmed by 0.8% during the 4th quarter. Russell Investments Group Ltd. now owns 160,238 shares of the company’s stock worth $1,979,000 after acquiring an additional 1,292 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of 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.

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”).