BlackRock Inc. Purchases New Holdings in Carlsmed, Inc. $CARL

Key Points

• BlackRock acquired 532,593 Carlsmed shares in the second quarter, worth approximately $5.5 million and representing about 1.96% of the company. Other institutional investors, including JPMorgan and BNP Paribas, also initiated positions.
• Carlsmed shares recently traded at $15.60, up 0.5%, with a 52-week range of $8.50 to $17.23. The company remains unprofitable but reported quarterly revenue of $18.94 million and slightly exceeded EPS expectations.
• Analyst sentiment is broadly positive: Carlsmed has a “Moderate Buy” consensus rating and an average price target of $19.25, supported by four Buy ratings, one Hold, and one Sell.

BlackRock Inc. acquired a new position in Carlsmed, Inc. (NASDAQ:CARL - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 532,593 shares of the company's stock, valued at approximately $5,528,000. BlackRock Inc. owned about 1.96% of Carlsmed at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new position in shares of Carlsmed during the third quarter valued at approximately $33,000. JPMorgan Chase & Co. acquired a new stake in shares of Carlsmed in the third quarter worth approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Carlsmed in the third quarter worth approximately $42,000. Rhumbline Advisers purchased a new stake in shares of Carlsmed during the third quarter worth approximately $79,000. Finally, Wells Fargo & Company MN increased its position in shares of Carlsmed by 61.7% during the fourth quarter. Wells Fargo & Company MN now owns 7,834 shares of the company's stock worth $97,000 after purchasing an additional 2,989 shares in the last quarter.

Carlsmed Stock Up 0.5%

NASDAQ CARL opened at $15.60 on Friday. Carlsmed, Inc. has a 52 week low of $8.50 and a 52 week high of $17.23. 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's fifty day simple moving average is $13.35 and its 200-day simple moving average is $11.77. The firm has a market cap of $425.93 million, a PE ratio of -10.91 and a beta of 1.95.

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 analysts' consensus estimates 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 firm had revenue of $18.94 million during the quarter. As a group, equities analysts anticipate that Carlsmed, Inc. will post -1.5 earnings per share for the current year.

Analyst Ratings Changes

CARL has been the topic of a number of research reports. Needham & Company LLC started coverage on Carlsmed in a report on Wednesday, July 1st. They issued a "buy" rating and a $17.00 price objective on the stock. Weiss Ratings raised shares of Carlsmed from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Truist Financial increased their target price on shares of Carlsmed from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Finally, Wall Street Zen raised shares of Carlsmed from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Carlsmed presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.25.

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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