BTIG Research Reaffirms "Buy" Rating for Carlsmed (NASDAQ:CARL)

Carlsmed (NASDAQ:CARL - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at BTIG Research in a report released on Monday, Benzinga reports. They presently have a $23.00 price objective on the stock. BTIG Research's price target indicates a potential upside of 57.36% from the stock's previous close.

Several other research analysts have also recently issued reports on CARL. Truist Financial increased their price objective on Carlsmed from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Weiss Ratings raised Carlsmed from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Needham & Company LLC initiated coverage on Carlsmed in a research report on Wednesday, July 1st. They issued a "buy" rating and a $17.00 price target for the company. Finally, Wall Street Zen upgraded Carlsmed from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Four equities research 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.25.

Carlsmed Trading Down 3.2%

NASDAQ CARL traded down $0.48 during trading on Monday, hitting $14.62. The stock had a trading volume of 3,356 shares, compared to its average volume of 138,970. The company has a market capitalization of $399.02 million, a PE ratio of -10.31 and a beta of 1.95. The company has a quick ratio of 8.66, a current ratio of 8.84 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average price of $14.42 and a 200 day moving average price of $12.03. Carlsmed has a twelve month low of $8.50 and a twelve month high of $17.23.

Carlsmed (NASDAQ:CARL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.39) earnings per share (EPS) 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 business had revenue of $18.94 million during the quarter. As a group, equities research analysts forecast that Carlsmed will post -1.5 earnings per share for the current year.

Institutional Investors Weigh In On Carlsmed

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Carlsmed during the second quarter valued at about $5,528,000. Janus Henderson Group PLC raised its position in Carlsmed by 7.6% during 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 in the last quarter. KCM Capital Inc purchased a new stake in Carlsmed during the first quarter valued at about $1,810,000. Parkman Healthcare Partners LLC purchased a new stake in Carlsmed during the second quarter valued at about $6,200,000. Finally, Jupiter Topco LLC purchased a new stake in Carlsmed during the second quarter valued at about $12,992,000.

Carlsmed Company Profile

Carlsmed, Inc is a medical technology company focused on improving outcomes for patients undergoing complex spinal surgery. The company develops personalized implants and surgical solutions designed to help spine surgeons address the anatomical needs of individual patients, particularly those with adult spinal deformity and other challenging spinal conditions.

Its principal product platform, aprevo, uses patient-specific planning and implant design to support spinal reconstruction procedures.