Carlsmed, Inc. (NASDAQ:CARL) Receives Average Rating of “Moderate Buy” from Analysts

Carlsmed, Inc. (NASDAQ:CARL) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $18.75.

A number of equities research analysts have recently issued reports on the company. Truist Financial dropped their price target on Carlsmed from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. BTIG Research reissued a “buy” rating and set a $23.00 price objective on shares of Carlsmed in a research note on Wednesday, May 6th. Wall Street Zen cut Carlsmed from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. The Goldman Sachs Group cut their target price on Carlsmed from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Finally, Weiss Ratings lowered Carlsmed from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday.

Carlsmed Stock Performance

CARL opened at $10.80 on Monday. Carlsmed has a twelve month low of $8.50 and a twelve month high of $17.19. The firm has a market capitalization of $293.54 million and a PE ratio of -4.30. The company has a current ratio of 11.88, a quick ratio of 11.67 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average price is $11.29 and its 200 day moving average price is $11.34.

Carlsmed (NASDAQ:CARL) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.11. Carlsmed had a negative net margin of 57.76% and a negative return on equity of 60.74%. The company had revenue of $16.12 million during the quarter. As a group, sell-side analysts expect that Carlsmed will post -1.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Carlsmed

A number of institutional investors have recently bought and sold shares of CARL. BNP Paribas Financial Markets acquired a new position in Carlsmed in the 3rd quarter valued at about $33,000. JPMorgan Chase & Co. acquired a new stake in shares of Carlsmed during the 3rd quarter worth approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Carlsmed during the 3rd quarter valued at approximately $42,000. Rhumbline Advisers purchased a new stake in shares of Carlsmed during the 3rd quarter valued at approximately $79,000. Finally, Wells Fargo & Company MN lifted its holdings in Carlsmed by 61.7% in the fourth quarter. Wells Fargo & Company MN now owns 7,834 shares of the company’s stock valued at $97,000 after acquiring an additional 2,989 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”).