Carlsmed (NASDAQ:CARL) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Carlsmed (NASDAQ:CARL) from a sell rating to a hold rating in a research note released on Saturday.

Other equities analysts also recently issued research reports about the company. Weiss Ratings upgraded Carlsmed from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Truist Financial boosted their price objective on Carlsmed from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Needham & Company LLC assumed coverage on Carlsmed in a research note on Wednesday, July 1st. They set a “buy” rating and a $17.00 target price for the company. Finally, BTIG Research reiterated a “buy” rating and set a $23.00 target price on shares of Carlsmed in a research report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.25.

Carlsmed Trading Up 2.4%

Shares of Carlsmed stock opened at $14.32 on Friday. The firm has a 50-day simple moving average of $11.84 and a two-hundred day simple moving average of $11.37. The company has a debt-to-equity ratio of 0.18, a quick ratio of 8.66 and a current ratio of 8.84. Carlsmed has a fifty-two week low of $8.50 and a fifty-two week high of $17.19. The company has a market cap of $390.98 million and a P/E ratio of -10.01.

Carlsmed (NASDAQ:CARL) last posted its earnings results on Wednesday, August 5th. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. Carlsmed had a negative return on equity of 38.06% and a negative net margin of 57.42%.The firm had revenue of $18.94 million for the quarter. As a group, equities analysts predict that Carlsmed will post -1.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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”).