Carlsmed (NASDAQ:CARL) Price Target Cut to $18.00 by Analysts at Truist Financial

Key Points

• Truist cut its price target on Carlsmed from $20.00 to $18.00 while retaining a "buy" rating, a level that the report says implies roughly a 67.5% upside from the stock's current price near $10.74.
• The analyst picture is mixed: MarketBeat shows a consensus rating of "Hold" and a consensus price target of $19.67, with three Buy, one Hold and one Sell; Goldman Sachs also trimmed its target to $17.00.
• Carlsmed is a commercial-stage medtech with sizable institutional interest (new stakes from OrbiMed, Vanguard, etc.), is trading well below its 52-week high at about $10.74, has negative margins and PE, but posted a quarterly EPS beat (‑$0.32 vs. est. ‑$0.43) with revenue roughly in line with estimates.

Carlsmed (NASDAQ:CARL - Get Free Report) had its price target decreased by equities researchers at Truist Financial from $20.00 to $18.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's price target indicates a potential upside of 67.54% from the stock's current price.

CARL has been the topic of a number of other reports. Weiss Ratings restated a "sell (e-)" rating on shares of Carlsmed in a report on Monday, December 22nd. Wall Street Zen upgraded shares of Carlsmed from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. The Goldman Sachs Group reduced their price objective on shares of Carlsmed from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, April 9th. Finally, Zacks Research upgraded shares of Carlsmed from a "strong sell" rating to a "hold" rating in a report on Thursday, March 26th. Three equities research 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 company has a consensus rating of "Hold" and a consensus price target of $19.67.

Carlsmed Stock Performance

Shares of CARL stock opened at $10.74 on Wednesday. The company has a quick ratio of 8.74, a current ratio of 8.87 and a debt-to-equity ratio of 0.16. Carlsmed has a 52 week low of $8.50 and a 52 week high of $17.19. The stock has a market capitalization of $287.19 million and a PE ratio of -2.95. The firm has a 50 day moving average of $11.24 and a two-hundred day moving average of $12.53.

Carlsmed (NASDAQ:CARL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.32) earnings per share for the quarter, beating analysts' consensus estimates of ($0.43) by $0.11. Carlsmed had a negative net margin of 58.67% and a negative return on equity of 72.60%. The business had revenue of $15.16 million for the quarter, compared to analyst estimates of $15.20 million.

Institutional Investors Weigh In On Carlsmed

Several hedge funds and other institutional investors have recently bought and sold shares of CARL. Orbimed Advisors LLC acquired a new stake in Carlsmed during the 3rd quarter worth $16,772,000. Vanguard Group Inc. acquired a new stake in Carlsmed during the 3rd quarter worth $3,042,000. Teacher Retirement System of Texas acquired a new stake in Carlsmed during the 3rd quarter worth $2,343,000. Russell Investments Group Ltd. acquired a new stake in Carlsmed during the 3rd quarter worth $2,128,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in Carlsmed during the 3rd quarter worth $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”).

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