Needham & Company LLC Issues Positive Forecast for Carlsmed (NASDAQ:CARL) Stock Price

Key Points

• Needham raised its Carlsmed price target from $17 to $22 and maintained a Buy rating, implying about 49.6% upside from the current share price.
• Analyst sentiment is moderately positive: four analysts rate CARL Buy, one Hold and one Sell, with a consensus target of $21.25.
• Carlsmed reported quarterly revenue of $21.55 million and a loss of $0.34 per share, narrower than the $0.42 loss analysts expected; shares opened at $14.71 on Wednesday.

Carlsmed (NASDAQ:CARL - Get Free Report) had its price objective lifted by stock analysts at Needham & Company LLC from $17.00 to $22.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the stock. Needham & Company LLC's price target indicates a potential upside of 49.56% from the company's current price.

Several other brokerages also recently issued reports on CARL. Wall Street Zen upgraded Carlsmed from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. BTIG Research raised their target price on Carlsmed from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Monday, October 12th. Truist Financial lifted their target price on Carlsmed from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Carlsmed in a research report on Wednesday, November 4th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $21.25.

Carlsmed Stock Down 8.3%

Shares of NASDAQ:CARL opened at $14.71 on Wednesday. The company's 50-day moving average price is $14.87 and its 200 day moving average price is $12.52. Carlsmed has a fifty-two week low of $8.50 and a fifty-two week high of $17.23. The company has a current ratio of 8.84, a quick ratio of 8.66 and a debt-to-equity ratio of 0.18.

Carlsmed (NASDAQ:CARL - Get Free Report) last posted its earnings results on Tuesday, November 10th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.08. Carlsmed had a negative net margin of 57.42% and a negative return on equity of 38.06%. The firm had revenue of $21.55 million during the quarter. On average, research analysts predict that Carlsmed will post -1.50 earnings per share for the current fiscal year.

Institutional Trading of Carlsmed

A number of institutional investors have recently made changes to their positions in CARL. Deutsche Bank AG acquired a new position in shares of Carlsmed during the second quarter valued at approximately $106,000. Bank of America Corp DE bought a new position in Carlsmed during the 2nd quarter valued at $108,000. Alpine Woods Capital Investors LLC bought a new position in Carlsmed during the 2nd quarter valued at $161,000. Bank of New York Mellon Corp acquired a new position in shares of Carlsmed during the 2nd quarter valued at $181,000. Finally, Zevenbergen Capital Investments LLC increased its position in shares of Carlsmed by 50.4% during the 3rd quarter. Zevenbergen Capital Investments LLC now owns 17,900 shares of the company's stock valued at $252,000 after purchasing an additional 6,000 shares during the period.

About Carlsmed

Carlsmed, Inc. is a medical technology company focused on personalized solutions for spine surgery. The company combines patient-specific planning, advanced imaging, software and additive manufacturing to develop implants designed to address the anatomical needs of individual patients. Its products include the aprevo® patient-specific interbody implant system, which is designed for use in spinal fusion procedures. Carlsmed's technology is intended to support surgeons in planning procedures and selecting or creating implants that may help restore spinal alignment and improve surgical precision.

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