Parkman Healthcare Partners LLC Invests $6.20 Million in Carlsmed, Inc. $CARL

Key Points

• Parkman Healthcare Partners bought 597,318 Carlsmed shares worth approximately $6.2 million, giving it about a 2.19% stake. Several other institutional investors also initiated or increased positions.
• Analyst sentiment is generally positive: four analysts rate Carlsmed a Buy, one rates it Hold and one rates it Sell. The stock has an average “Moderate Buy” rating and a consensus price target of $19.25.
• 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%.

Parkman Healthcare Partners LLC purchased a new stake in Carlsmed, Inc. (NASDAQ:CARL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 597,318 shares of the company's stock, valued at approximately $6,200,000. Parkman Healthcare Partners LLC owned approximately 2.19% of Carlsmed as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. BNP Paribas Financial Markets acquired a new stake in shares of Carlsmed in the third quarter valued at approximately $33,000. JPMorgan Chase & Co. acquired a new stake in Carlsmed during the third quarter worth approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Carlsmed during the 3rd quarter worth $42,000. Rhumbline Advisers acquired a new position in Carlsmed in the 3rd quarter valued at $79,000. Finally, Wells Fargo & Company MN lifted its position in shares of Carlsmed by 61.7% during the 4th quarter. Wells Fargo & Company MN now owns 7,834 shares of the company's stock valued at $97,000 after acquiring an additional 2,989 shares during the period.

Analyst Ratings Changes

CARL has been the subject of a number of analyst reports. Needham & Company LLC started coverage on Carlsmed in a research note on Wednesday, July 1st. They issued a "buy" rating and a $17.00 price target for the company. Wall Street Zen upgraded shares of Carlsmed from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. BTIG Research reissued a "buy" rating and issued a $23.00 target price on shares of Carlsmed in a report on Wednesday, May 6th. Truist Financial increased their price target on shares of Carlsmed from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Finally, Weiss Ratings raised shares of Carlsmed from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $19.25.

Carlsmed Stock Down 1.6%

Shares of NASDAQ CARL opened at $15.80 on Tuesday. The company has a market cap of $431.39 million and a price-to-earnings ratio of -11.05. 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, Inc. has a 12 month low of $8.50 and a 12 month high of $17.23. The stock has a 50-day moving average price of $12.33 and a two-hundred day moving average price of $11.47.

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

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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