Carlsmed (NASDAQ:CARL) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Carlsmed (NASDAQ:CARL) from a hold rating to a strong sell rating in a report published on Wednesday morning,Zacks.com reports.

Several other research firms have also recently issued reports on CARL. BTIG Research reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Carlsmed in a research report on Monday, December 15th. Truist Financial restated a “buy” rating and issued a $20.00 price target (up from $18.00) on shares of Carlsmed in a research note on Friday, November 7th. Wall Street Zen raised Carlsmed from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings reiterated a “sell (e-)” rating on shares of Carlsmed in a report on Monday, December 22nd. Finally, The Goldman Sachs Group restated a “buy” rating and set a $20.00 target price on shares of Carlsmed in a research note on Friday, January 9th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $21.33.

Carlsmed Price Performance

Shares of Carlsmed stock opened at $14.57 on Wednesday. Carlsmed has a 1 year low of $10.65 and a 1 year high of $17.19. The stock has a 50-day moving average price of $12.68. The company has a market cap of $389.46 million and a PE ratio of -3.98. The company has a current ratio of 12.03, a quick ratio of 11.91 and a debt-to-equity ratio of 0.14.

Carlsmed (NASDAQ:CARL) last issued its earnings results on Wednesday, February 25th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.11. The business had revenue of $15.16 million during the quarter, compared to analysts’ expectations of $15.20 million. Carlsmed had a negative net margin of 58.67% and a negative return on equity of 251.27%.

Institutional Investors Weigh In On Carlsmed

Hedge funds and other institutional investors have recently made changes to their positions in the business. Teacher Retirement System of Texas bought a new position in shares of Carlsmed in the 3rd quarter worth approximately $2,343,000. Kornitzer Capital Management Inc. KS bought a new position in Carlsmed in the third quarter worth approximately $736,000. TD Waterhouse Canada Inc. purchased a new position in shares of Carlsmed during the 3rd quarter worth $2,026,000. Board of Trustees of The Leland Stanford Junior University bought a new stake in shares of Carlsmed during the 3rd quarter valued at $335,000. Finally, Rhumbline Advisers purchased a new stake in shares of Carlsmed in the 3rd quarter worth $79,000.

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”).