Carlsmed (NASDAQ:CARL) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Carlsmed from a “hold” to a “sell,” even though the broader analyst picture remains more favorable overall.
• Other analysts are mixed but mostly bullish: Carlsmed has four Buy ratings, one Hold, and one Sell, with a consensus Moderate Buy and an average target price of $18.75.
• The stock opened at $11.66, near its 50-day and 200-day moving averages, and the company recently reported a smaller-than-expected loss of $0.32 per share on revenue of $16.12 million.

Carlsmed (NASDAQ:CARL - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

A number of other equities research analysts have also commented on CARL. Zacks Research upgraded shares of Carlsmed from a "strong sell" rating to a "hold" rating in a report on Thursday, March 26th. Needham & Company LLC began coverage on shares of Carlsmed in a research report on Wednesday, July 1st. They issued a "buy" rating and a $17.00 price objective on the stock. Weiss Ratings raised shares of Carlsmed from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, July 6th. BTIG Research reiterated a "buy" rating and set a $23.00 target price on shares of Carlsmed in a report on Wednesday, May 6th. Finally, Truist Financial cut their target price on Carlsmed from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Wednesday, April 15th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Carlsmed currently has an average rating of "Moderate Buy" and a consensus target price of $18.75.

Carlsmed Price Performance

Shares of Carlsmed stock opened at $11.66 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 11.88 and a quick ratio of 11.67. The business's 50 day simple moving average is $11.21 and its two-hundred day simple moving average is $11.40. The stock has a market capitalization of $316.92 million and a P/E ratio of -4.65. Carlsmed has a one year low of $8.50 and a one year high of $17.19.

Carlsmed (NASDAQ:CARL - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.32) earnings per share for the quarter, beating analysts' consensus estimates of ($0.43) by $0.11. Carlsmed had a negative return on equity of 60.74% and a negative net margin of 57.76%.The firm had revenue of $16.12 million during the quarter. Analysts forecast that Carlsmed will post -1.35 EPS for the current year.

Institutional Investors Weigh In On Carlsmed

A number of large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new position in shares of Carlsmed during the third quarter valued at about $33,000. JPMorgan Chase & Co. purchased a new stake in Carlsmed in the third quarter worth about $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Carlsmed during the 3rd quarter valued at approximately $42,000. Rhumbline Advisers bought a new stake in Carlsmed during the 3rd quarter valued at approximately $79,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Carlsmed by 61.7% during the 4th quarter. Wells Fargo & Company MN now owns 7,834 shares of the company's stock worth $97,000 after acquiring an additional 2,989 shares during the period.

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”).

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