Carlsmed (NASDAQ:CARL) Upgraded 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 issued to investors on Saturday morning.

Several other equities analysts also recently weighed in on CARL. Truist Financial raised their price target on shares of Carlsmed from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. BTIG Research reaffirmed a “buy” rating and set a $23.00 price objective on shares of Carlsmed in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Carlsmed from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, Needham & Company LLC started coverage on shares of Carlsmed in a research note on Wednesday, July 1st. They issued a “buy” rating and a $17.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Carlsmed currently has a consensus rating of “Moderate Buy” and an average price target of $19.25.

Carlsmed Stock Down 3.8%

Shares of CARL opened at $13.78 on Friday. The stock has a 50 day moving average price of $11.89 and a 200 day moving average price of $11.36. Carlsmed has a one year low of $8.50 and a one year high of $17.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 8.66 and a current ratio of 8.84. The stock has a market capitalization of $376.19 million and a price-to-earnings ratio of -9.64.

Carlsmed (NASDAQ:CARL) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.39) earnings per share 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 company had revenue of $18.94 million for the quarter. Equities research analysts forecast that Carlsmed will post -1.5 earnings per share for the current fiscal year.

Institutional Trading of Carlsmed

Several institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new position in Carlsmed in the third quarter valued at approximately $33,000. JPMorgan Chase & Co. purchased a new stake in Carlsmed in the third quarter valued at $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Carlsmed in the third quarter valued at $42,000. Rhumbline Advisers acquired a new position in shares of Carlsmed in the 3rd quarter valued at $79,000. Finally, Wells Fargo & Company MN lifted its stake in shares of Carlsmed by 61.7% in the 4th quarter. Wells Fargo & Company MN now owns 7,834 shares of the company’s stock valued at $97,000 after purchasing an additional 2,989 shares during the last quarter.

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”).