KCM Capital Inc Invests $1.81 Million in Carlsmed, Inc. $CARL

Key Points

• KCM Capital Inc opened a new position in Carlsmed during the first quarter, buying 200,000 shares valued at about $1.81 million. The stake represented roughly 0.74% of Carlsmed and was KCM’s 28th-largest holding.
• Other institutional investors have also been active in CARL, including new purchases by Sectoral Asset Management and Norges Bank, while TD Waterhouse Canada, Geode Capital Management, and Russell Investments increased their holdings.
• Analyst sentiment is mixed but still leans positive, with an average rating of “Moderate Buy” and a consensus price target of $18.75. Carlsmed recently reported a quarterly loss of $0.32 per share, better than expected, on $16.12 million in revenue.

KCM Capital Inc purchased a new stake in shares of Carlsmed, Inc. (NASDAQ:CARL - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 200,000 shares of the company's stock, valued at approximately $1,810,000. Carlsmed comprises approximately 0.3% of KCM Capital Inc's holdings, making the stock its 28th biggest position. KCM Capital Inc owned 0.74% of Carlsmed as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sectoral Asset Management Inc. bought a new position in Carlsmed in the 4th quarter valued at approximately $589,000. TD Waterhouse Canada Inc. increased its holdings 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 worth $2,154,000 after purchasing an additional 23,163 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Carlsmed by 9.8% in the 4th quarter. Geode Capital Management LLC now owns 162,033 shares of the company's stock worth $2,002,000 after purchasing an additional 14,485 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Carlsmed by 0.8% in the fourth quarter. Russell Investments Group Ltd. now owns 160,238 shares of the company's stock worth $1,979,000 after purchasing an additional 1,292 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Carlsmed during the fourth quarter valued at $803,000.

Analyst Ratings Changes

Several research firms recently commented on CARL. Wall Street Zen downgraded Carlsmed from a "hold" rating to a "sell" rating in a report on Saturday, July 18th. The Goldman Sachs Group lowered their target price on shares of Carlsmed from $19.00 to $17.00 and set a "buy" rating on the stock in a research note on Thursday, April 9th. Truist Financial dropped their price target on shares of Carlsmed from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, April 15th. BTIG Research reiterated a "buy" rating and issued a $23.00 price target on shares of Carlsmed in a research note on Wednesday, May 6th. Finally, Weiss Ratings raised shares of Carlsmed from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, July 6th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $18.75.

Carlsmed Stock Performance

Shares of CARL opened at $11.02 on Thursday. The firm has a market capitalization of $299.52 million and a P/E ratio of -4.39. The company has a debt-to-equity ratio of 0.17, a current ratio of 11.88 and a quick ratio of 11.67. Carlsmed, Inc. has a one year low of $8.50 and a one year high of $17.19. The business has a fifty day moving average of $11.29 and a 200 day moving average of $11.35.

Carlsmed (NASDAQ:CARL - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.11. The firm had revenue of $16.12 million for the quarter. Carlsmed had a negative net margin of 57.76% and a negative return on equity of 60.74%. As a group, sell-side analysts anticipate that Carlsmed, Inc. will post -1.35 EPS for the current year.

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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