Carlsmed (NASDAQ:CARL) Price Target Raised to $24.00

Key Points

• BTIG Research raised Carlsmed’s price target from $23 to $24 and maintained a “buy” rating, implying 66.44% upside from the prior close.
• Analyst sentiment is generally positive: Carlsmed has a consensus “Moderate Buy” rating and an average price target of $19.50, based on four Buy, one Hold, and one Sell rating.
• Carlsmed reported quarterly EPS of $(0.39), slightly better than estimates, on $18.94 million in revenue, but remains unprofitable with a negative 57.42% net margin.

Carlsmed (NASDAQ:CARL - Get Free Report) had its target price boosted by stock analysts at BTIG Research from $23.00 to $24.00 in a research report issued on Monday, Benzinga reports. The firm presently has a "buy" rating on the stock. BTIG Research's price objective suggests a potential upside of 66.44% from the stock's previous close.

Several other analysts have also issued reports on CARL. Truist Financial lifted their target price on shares of Carlsmed from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Weiss Ratings raised shares of Carlsmed from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Needham & Company LLC assumed coverage on Carlsmed in a report on Wednesday, July 1st. They issued a "buy" rating and a $17.00 price objective on the stock. Finally, Wall Street Zen upgraded Carlsmed from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Carlsmed has a consensus rating of "Moderate Buy" and an average target price of $19.50.

Carlsmed Stock Performance

Shares of CARL stock opened at $14.42 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 8.84 and a quick ratio of 8.66. The company has a market cap of $393.67 million, a price-to-earnings ratio of -10.08 and a beta of 2.09. The stock has a 50 day simple moving average of $14.93 and a 200-day simple moving average of $12.25. Carlsmed has a 1-year low of $8.50 and a 1-year high of $17.23.

Carlsmed (NASDAQ:CARL - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $0.01. The firm 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%. On average, equities research analysts expect that Carlsmed will post -1.50 EPS for the current fiscal year.

Institutional Trading of Carlsmed

Large investors have recently bought and sold shares of the business. Jupiter Topco LLC acquired a new position in shares of Carlsmed during the 2nd quarter worth approximately $12,992,000. Janus Henderson Group PLC increased its holdings in shares of Carlsmed by 7.6% in the first quarter. Janus Henderson Group PLC now owns 1,227,452 shares of the company's stock valued at $11,108,000 after purchasing an additional 86,834 shares during the last quarter. Parkman Healthcare Partners LLC acquired a new stake in shares of Carlsmed in the second quarter valued at approximately $6,200,000. BlackRock Inc. purchased a new position in Carlsmed during the second quarter worth approximately $5,528,000. Finally, KCM Capital Inc purchased a new position in Carlsmed during the first quarter worth approximately $1,810,000.

Carlsmed Company Profile

Carlsmed, Inc is a medical technology company focused on personalized solutions for spine surgery. The company develops patient-specific implants and digital planning tools intended to help surgeons address spinal deformity and degenerative conditions with procedures tailored to an individual patient's anatomy and surgical goals.

Its principal products are offered under the aprevo brand and include personalized interbody fusion implants produced using three-dimensional printing, along with software that supports implant design and preoperative planning.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.