Carlsmed (NASDAQ:CARL) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Carlsmed (NASDAQ:CARL) from a hold rating to a sell rating in a research note published on Saturday.

A number of other analysts have also issued reports on the company. Truist Financial reiterated a “buy” rating and set a $20.00 price objective (up from $18.00) on shares of Carlsmed in a research note on Friday, November 7th. The Goldman Sachs Group restated a “buy” rating and issued a $20.00 price objective on shares of Carlsmed in a research report on Friday, January 9th. BTIG Research reissued a “buy” rating and issued a $24.00 price target on shares of Carlsmed in a report on Monday, December 15th. Finally, Weiss Ratings restated a “sell (e-)” rating on shares of Carlsmed in a research report on Monday, December 22nd. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.33.

Carlsmed Stock Down 7.2%

CARL stock opened at $12.57 on Friday. Carlsmed has a 12-month low of $11.45 and a 12-month high of $17.19. The company has a current ratio of 12.03, a quick ratio of 11.91 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average price of $13.29. The firm has a market capitalization of $334.24 million and a price-to-earnings ratio of -3.76.

Carlsmed (NASDAQ:CARL) last issued its earnings results on Thursday, November 6th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.05.

Hedge Funds Weigh In On Carlsmed

Hedge funds and other institutional investors have recently modified their holdings of the company. Orbimed Advisors LLC purchased a new position in Carlsmed during the 3rd quarter valued at about $16,772,000. Vanguard Group Inc. purchased a new position in Carlsmed during the 3rd quarter valued at $3,042,000. Teacher Retirement System of Texas bought a new position in Carlsmed in the 3rd quarter worth $2,343,000. Russell Investments Group Ltd. bought a new position in Carlsmed in the 3rd quarter worth $2,128,000. Finally, TD Waterhouse Canada Inc. bought a new position in Carlsmed in the third quarter worth about $2,026,000.

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”).