Carlsmed, Inc. (NASDAQ:CARL) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Carlsmed has a “Moderate Buy” consensus rating from six analysts: four buys, one hold and one sell. The average 12-month price target is $19.25, above the reported share price of $15.34.
• Institutional investors have increased exposure, including new stakes from BlackRock, Parkman Healthcare Partners and KCM Capital, while Janus Henderson raised its position by 7.6%.
• Carlsmed reported quarterly revenue of $18.94 million and an adjusted loss of $0.39 per share, narrowly beating estimates. Despite strong liquidity, the company remains unprofitable, with a negative net margin of 57.42%.

Carlsmed, Inc. (NASDAQ:CARL - Get Free Report) has been assigned an average recommendation 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 issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $19.25.

CARL has been the topic of a number of recent research reports. Weiss Ratings raised Carlsmed from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Needham & Company LLC began coverage on shares of Carlsmed in a report on Wednesday, July 1st. They issued a "buy" rating and a $17.00 target price for the company. Wall Street Zen upgraded shares of Carlsmed from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Truist Financial boosted their target price on Carlsmed from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th.

Institutional Trading of Carlsmed

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Carlsmed during the second quarter valued at approximately $5,528,000. KCM Capital Inc purchased a new stake in shares of Carlsmed during the first quarter valued at $1,810,000. Janus Henderson Group PLC boosted its position in Carlsmed by 7.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,227,452 shares of the company's stock valued at $11,108,000 after buying an additional 86,834 shares during the period. Parkman Healthcare Partners LLC bought a new position in Carlsmed in the second quarter worth approximately $6,200,000. Finally, Sectoral Asset Management Inc. bought a new position in shares of Carlsmed during the 4th quarter worth $589,000.

Carlsmed Price Performance

Shares of NASDAQ CARL opened at $15.34 on Tuesday. Carlsmed has a twelve month low of $8.50 and a twelve month high of $17.23. The company has a 50 day moving average of $13.80 and a 200 day moving average of $11.89. 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 market cap of $418.78 million, a P/E ratio of -10.73 and a beta of 1.95.

Carlsmed (NASDAQ:CARL - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.01. The company had revenue of $18.94 million for the quarter. Carlsmed had a negative return on equity of 38.06% and a negative net margin of 57.42%. As a group, research analysts expect that Carlsmed will post -1.5 EPS for the current fiscal year.

About Carlsmed

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.

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