Wall Street Zen Upgrades Carlsmed (NASDAQ:CARL) to "Hold"

Key Points

• Wall Street Zen upgraded Carlsmed from “Sell” to “Hold,” while the broader analyst consensus remains “Moderate Buy” with a $19.25 price target.
• Carlsmed shares opened at $14.32, up 2.4%, with a market capitalization of approximately $391 million; the stock has traded between $8.50 and $17.19 over the past year.
• The company reported quarterly revenue of $18.94 million and an adjusted loss of $0.39 per share, slightly better than analysts’ expectations, though it continues to post negative margins and return on equity.

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

Several other research analysts also recently issued reports on the company. Truist Financial upped their price objective on Carlsmed from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. BTIG Research reissued a "buy" rating and issued a $23.00 target price on shares of Carlsmed in a research note on Wednesday, May 6th. Weiss Ratings raised Carlsmed from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday. Finally, Needham & Company LLC initiated coverage on Carlsmed in a research report on Wednesday, July 1st. They issued a "buy" rating and a $17.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Carlsmed presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.25.

Carlsmed Trading Up 2.4%

Shares of NASDAQ CARL opened at $14.32 on Friday. Carlsmed has a 1-year low of $8.50 and a 1-year high of $17.19. The company has a 50-day moving average of $11.84 and a two-hundred day moving average of $11.37. The company has a market cap of $390.94 million and a PE ratio of -10.01. The company has a current ratio of 8.84, a quick ratio of 8.66 and a debt-to-equity ratio of 0.18.

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

Hedge Funds Weigh In On Carlsmed

Several institutional investors and hedge funds have recently made changes to their positions in CARL. Orbimed Advisors LLC bought a new stake in shares of Carlsmed in the 3rd quarter valued at $16,772,000. Jupiter Topco LLC bought a new position in Carlsmed during the second quarter worth about $12,992,000. Parkman Healthcare Partners LLC acquired a new position in Carlsmed in the second quarter valued at about $6,200,000. BlackRock Inc. acquired a new position in Carlsmed in the second quarter valued at about $5,528,000. Finally, Vanguard Group Inc. bought a new stake in shares of Carlsmed in the third quarter worth about $3,042,000.

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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