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

Zacks Research upgraded shares of Carlsmed (NASDAQ:CARL) from a strong sell rating to a hold rating in a research note published on Thursday,Zacks.com reports.

Several other brokerages have also recently commented on CARL. The Goldman Sachs Group reiterated a “buy” rating and issued a $20.00 target price on shares of Carlsmed in a report on Friday, January 9th. BTIG Research reiterated a “buy” rating and set a $24.00 price target on shares of Carlsmed in a report on Monday, December 15th. Weiss Ratings restated a “sell (e-)” rating on shares of Carlsmed in a research note on Monday, December 22nd. Finally, Wall Street Zen upgraded shares of Carlsmed from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Three 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. Based on data from MarketBeat.com, Carlsmed currently has a consensus rating of “Hold” and an average price target of $21.33.

Carlsmed Trading Down 2.0%

NASDAQ:CARL opened at $9.66 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.74 and a current ratio of 8.87. Carlsmed has a 1 year low of $9.55 and a 1 year high of $17.19. The stock has a market capitalization of $258.21 million and a price-to-earnings ratio of -2.64. The stock has a fifty day moving average price of $12.01 and a two-hundred day moving average price of $12.94.

Carlsmed (NASDAQ:CARL) last issued its earnings results on Wednesday, February 25th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.11. The firm had revenue of $15.16 million for the quarter, compared to analysts’ expectations of $15.20 million. Carlsmed had a negative return on equity of 72.60% and a negative net margin of 58.67%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas bought a new stake in Carlsmed during the third quarter worth about $2,343,000. Kornitzer Capital Management Inc. KS acquired a new stake in Carlsmed in the third quarter valued at approximately $736,000. TD Waterhouse Canada Inc. bought a new stake in shares of Carlsmed in the third quarter worth $2,026,000. Board of Trustees of The Leland Stanford Junior University acquired a new position in Carlsmed in the third quarter valued at $335,000. Finally, Rhumbline Advisers acquired a new stake in shares of Carlsmed during the 3rd quarter worth approximately $79,000.

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”).