Carlsmed (NASDAQ:CARL) Stock Rating Upgraded by Wall Street Zen

Carlsmed (NASDAQ:CARL) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

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

Carlsmed Stock Performance

Shares of CARL stock opened at $14.32 on Friday. The stock has a market capitalization of $390.94 million and a price-to-earnings ratio of -10.01. Carlsmed has a one year low of $8.50 and a one year high of $17.19. The company’s 50-day simple moving average is $11.84 and its 200-day simple moving average is $11.36. The company has a debt-to-equity ratio of 0.18, a quick ratio of 8.66 and a current ratio of 8.84.

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 the consensus estimate 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 firm had revenue of $18.94 million during the quarter. Equities analysts anticipate that Carlsmed will post -1.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carlsmed

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets acquired a new stake in shares of Carlsmed during the 3rd quarter worth approximately $33,000. JPMorgan Chase & Co. acquired a new position in Carlsmed during the 3rd quarter valued at approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Carlsmed during the 3rd quarter worth $42,000. Rhumbline Advisers bought a new position in Carlsmed during the 3rd quarter worth $79,000. Finally, Wells Fargo & Company MN increased its position in Carlsmed by 61.7% in the fourth quarter. Wells Fargo & Company MN now owns 7,834 shares of the company’s stock worth $97,000 after buying an additional 2,989 shares during the period.

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”).