Carlsmed (NASDAQ:CARL) Stock Rating Reaffirmed as “Buy” by BTIG Research

Carlsmed (NASDAQ:CARL)‘s stock had its “buy” rating reiterated by equities research analysts at BTIG Research in a report issued on Monday, Benzinga reports. They currently have a $23.00 target price on the stock. BTIG Research’s price target points to a potential upside of 61.06% from the stock’s previous close.

Several other research firms have also recently commented on CARL. Weiss Ratings raised shares of Carlsmed from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded shares of Carlsmed from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Needham & Company LLC assumed coverage on Carlsmed in a research note on Wednesday, July 1st. They set a “buy” rating and a $17.00 price objective on the stock. Finally, Truist Financial boosted their price objective on Carlsmed from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.25.

Carlsmed Price Performance

CARL stock traded up $0.52 on Monday, reaching $14.28. The company had a trading volume of 84,847 shares, compared to its average volume of 138,120. The company’s fifty day moving average is $14.64 and its 200 day moving average is $12.10. Carlsmed has a 1 year low of $8.50 and a 1 year high of $17.23. The company has a market cap of $389.84 million, a P/E ratio of -9.95 and a beta of 2.10. The company has a debt-to-equity ratio of 0.18, a quick ratio of 8.66 and a current ratio of 8.84.

Carlsmed (NASDAQ:CARL) last announced its earnings results on Wednesday, August 5th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.01. The firm had revenue of $18.94 million during the quarter. Carlsmed had a negative net margin of 57.42% and a negative return on equity of 38.06%. On average, research analysts forecast that Carlsmed will post -1.5 earnings per share for the current year.

Institutional Investors Weigh In On Carlsmed

A number of institutional investors have recently made changes to their positions in the company. Bank of America Corp DE bought a new stake in shares of Carlsmed in the 2nd quarter valued at approximately $108,000. Jupiter Topco LLC bought a new stake in shares of Carlsmed in the 2nd quarter valued at approximately $12,992,000. Parkman Healthcare Partners LLC acquired a new position in shares of Carlsmed in the 2nd quarter valued at about $6,200,000. Alpine Woods Capital Investors LLC acquired a new position in shares of Carlsmed in the 2nd quarter valued at about $161,000. Finally, BlackRock Inc. acquired a new position in shares of Carlsmed in the 2nd quarter valued at about $5,528,000.

Carlsmed Company Profile

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.