Carlsmed (NASDAQ:CARL) Upgraded by Zacks Research to Hold Rating

Key Points

• Zacks upgraded Carlsmed from a "strong sell" to a "hold"; analysts overall show a mixed view (three Buys, one Hold, one Sell) with a consensus price target of $21.33.
• Carlsmed beat Q4 EPS estimates with ($0.32) vs. ($0.43) expected, but remains unprofitable (negative P/E of -2.64, negative net margin ~58.7%) and trades near recent lows around $9.66 with a market cap of about $258.2M.
• Institutional investors have been active—Orbimed, Janus Henderson and Vanguard are among the new or increased holders, indicating notable institutional interest in the stock.

Carlsmed (NASDAQ:CARL - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Thursday,Zacks.com reports.

CARL has been the topic of several other reports. BTIG Research restated a "buy" rating and set a $24.00 price objective on shares of Carlsmed in a report on Monday, December 15th. Wall Street Zen upgraded Carlsmed from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Weiss Ratings restated a "sell (e-)" rating on shares of Carlsmed in a research note on Monday, December 22nd. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $20.00 price target on shares of Carlsmed in a report on Friday, January 9th. Three 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, the stock has a consensus rating of "Hold" and a consensus price target of $21.33.

Carlsmed Stock Performance

Carlsmed stock opened at $9.66 on Thursday. Carlsmed has a 12-month low of $9.55 and a 12-month high of $17.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.87 and a quick ratio of 8.74. The company has a market capitalization of $258.21 million and a price-to-earnings ratio of -2.64. The firm's fifty day moving average price is $12.01 and its 200 day moving average price is $12.94.

Carlsmed (NASDAQ:CARL - Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.11. Carlsmed had a negative return on equity of 72.60% and a negative net margin of 58.67%.The company had revenue of $15.16 million during the quarter, compared to the consensus estimate of $15.20 million.

Institutional Trading of Carlsmed

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

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