Carlsmed (NASDAQ:CARL) Raised to Hold at Zacks Research

Carlsmed (NASDAQ:CARL) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other brokerages have also recently commented on CARL. The Goldman Sachs Group reissued a “buy” rating and set a $20.00 target price on shares of Carlsmed in a report on Friday, January 9th. Weiss Ratings reiterated a “sell (e-)” rating on shares of Carlsmed in a research report on Monday, December 22nd. BTIG Research reissued a “buy” rating and issued a $24.00 price objective on shares of Carlsmed in a research note on Monday, December 15th. Finally, Wall Street Zen raised Carlsmed from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Three 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 company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.33.

Carlsmed Price Performance

Shares of NASDAQ CARL opened at $9.66 on Thursday. The stock has a market cap of $258.21 million and a P/E ratio of -2.64. The firm’s 50-day simple moving average is $12.01 and its 200 day simple moving average is $12.94. Carlsmed has a fifty-two week low of $9.55 and a fifty-two week high of $17.19. The company has a quick ratio of 8.74, a current ratio of 8.87 and a debt-to-equity ratio of 0.16.

Carlsmed (NASDAQ:CARL) last released its earnings results on Wednesday, February 25th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.11. The firm had revenue of $15.16 million for 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 72.60%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Orbimed Advisors LLC bought a new stake in shares of Carlsmed during the 3rd quarter worth $16,772,000. Janus Henderson Group PLC raised its position in shares of Carlsmed by 4.4% during the fourth quarter. Janus Henderson Group PLC now owns 1,140,618 shares of the company’s stock worth $14,087,000 after purchasing an additional 48,081 shares during the period. Vanguard Group Inc. purchased a new stake in shares of Carlsmed during the third quarter valued at $3,042,000. TD Waterhouse Canada Inc. boosted its position in shares of Carlsmed by 15.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 175,405 shares of the company’s stock valued at $2,154,000 after purchasing an additional 23,163 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in Carlsmed in the 3rd quarter worth about $2,343,000.

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”).