Wall Street Zen Downgrades Carlsmed (NASDAQ:CARL) to Sell

Carlsmed (NASDAQ:CARL) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other research analysts also recently issued reports on the stock. Truist Financial restated a “buy” rating and set a $20.00 target price (up from $18.00) on shares of Carlsmed in a research report on Friday, November 7th. The Goldman Sachs Group reissued a “buy” rating and issued a $20.00 price objective on shares of Carlsmed in a report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (e-)” rating on shares of Carlsmed in a report on Monday, December 22nd. Finally, BTIG Research restated a “buy” rating and issued a $24.00 price objective on shares of Carlsmed in a research report on Monday, December 15th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.33.

Carlsmed Stock Down 7.2%

Carlsmed stock opened at $12.57 on Friday. The business’s 50-day moving average price is $13.29. The firm has a market capitalization of $334.24 million and a P/E ratio of -3.76. Carlsmed has a 52 week low of $11.45 and a 52 week high of $17.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 12.03 and a quick ratio of 11.91.

Carlsmed (NASDAQ:CARL) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.05.

Institutional Trading of Carlsmed

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

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”).