The Goldman Sachs Group Has Lowered Expectations for Carlsmed (NASDAQ:CARL) Stock Price

Carlsmed (NASDAQ:CARL) had its price target dropped by equities researchers at The Goldman Sachs Group from $19.00 to $17.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 90.16% from the company’s current price.

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

Carlsmed Price Performance

Shares of NASDAQ:CARL opened at $8.94 on Thursday. The company’s 50-day moving average is $11.32 and its 200 day moving average is $12.60. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.74 and a current ratio of 8.87. The company has a market capitalization of $238.97 million and a P/E ratio of -2.44. Carlsmed has a fifty-two week low of $8.86 and a fifty-two week high of $17.19.

Carlsmed (NASDAQ:CARL) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.11. Carlsmed had a negative return on equity of 72.60% and a negative net margin of 58.67%.The business had revenue of $15.16 million for the quarter, compared to analysts’ expectations of $15.20 million.

Institutional Trading of Carlsmed

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC lifted its position in Carlsmed by 6.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,800 shares of the company’s stock valued at $195,000 after buying an additional 1,000 shares during the period. Barclays PLC lifted its position in Carlsmed by 10.6% during the fourth quarter. Barclays PLC now owns 10,633 shares of the company’s stock valued at $131,000 after buying an additional 1,021 shares during the period. Russell Investments Group Ltd. lifted its position in Carlsmed by 0.8% during the fourth quarter. Russell Investments Group Ltd. now owns 160,238 shares of the company’s stock valued at $1,979,000 after buying an additional 1,292 shares during the period. BNP Paribas Financial Markets purchased a new position in Carlsmed during the third quarter valued at $33,000. Finally, JPMorgan Chase & Co. purchased a new position in Carlsmed during the third quarter valued at $37,000.

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”).