Carlsmed, Inc. (NASDAQ:CARL) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts give Carlsmed a “Moderate Buy” consensus: Four rate the stock a buy, one recommends holding, and one recommends selling. The average 12-month price target is $19.25, above the reported opening price of $16.50.
• Carlsmed reported quarterly revenue of $18.94 million and an adjusted EPS loss of $0.39, narrowly beating the $0.40 loss expected by analysts. However, the company remains unprofitable, with a negative net margin of 57.42%.
• Institutional interest increased: Jupiter Topco, Parkman Healthcare Partners, BlackRock and other investors initiated positions during the second quarter, including purchases valued at approximately $13.0 million, $6.2 million and $5.5 million, respectively.

Carlsmed, Inc. (NASDAQ:CARL - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $19.25.

A number of brokerages recently commented on CARL. Weiss Ratings raised Carlsmed from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Truist Financial boosted their price target on Carlsmed from $18.00 to $20.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Needham & Company LLC initiated coverage on Carlsmed in a research note on Wednesday, July 1st. They issued a "buy" rating and a $17.00 price objective on the stock. Wall Street Zen raised Carlsmed from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, BTIG Research reiterated a "buy" rating and set a $23.00 price objective on shares of Carlsmed in a research note on Wednesday, May 6th.

Carlsmed Trading Up 6.3%

Carlsmed stock opened at $16.50 on Friday. Carlsmed has a 52-week low of $8.50 and a 52-week high of $17.19. The company has a market cap of $450.45 million and a P/E ratio of -11.54. 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 business has a 50-day simple moving average of $12.14 and a two-hundred day simple moving average of $11.42.

Carlsmed (NASDAQ:CARL - Get Free Report) last announced its earnings results 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 net margin of 57.42% and a negative return on equity of 38.06%. The company had revenue of $18.94 million during the quarter. Analysts predict that Carlsmed will post -1.5 EPS for the current year.

Institutional Trading of Carlsmed

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE purchased a new position in shares of Carlsmed in the second quarter valued at about $108,000. Jupiter Topco LLC purchased a new position in shares of Carlsmed during the second quarter valued at about $12,992,000. Parkman Healthcare Partners LLC bought a new stake in shares of Carlsmed in the second quarter worth about $6,200,000. Alpine Woods Capital Investors LLC bought a new stake in shares of Carlsmed in the second quarter worth about $161,000. Finally, BlackRock Inc. purchased a new stake in shares of Carlsmed in the second quarter worth about $5,528,000.

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”).

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