Carlsmed, Inc. (NASDAQ:CARL) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Carlsmed, Inc. (NASDAQ:CARL) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $19.25.

A number of research analysts recently weighed in on CARL shares. Needham & Company LLC began coverage on shares of Carlsmed in a research note on Wednesday, July 1st. They issued a “buy” rating and a $17.00 price target on the stock. Wall Street Zen raised shares of Carlsmed from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings raised shares of Carlsmed from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, Truist Financial raised their price target on Carlsmed from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th.

Institutional Investors Weigh In On Carlsmed

Several hedge funds and other institutional investors have recently made changes to their positions in CARL. Deutsche Bank AG acquired a new stake in Carlsmed during the second quarter worth approximately $106,000. Bank of America Corp DE acquired a new stake in shares of Carlsmed during the second quarter worth about $108,000. California State Teachers Retirement System grew its stake in shares of Carlsmed by 157.2% in the 2nd quarter. California State Teachers Retirement System now owns 1,183 shares of the company’s stock valued at $114,000 after purchasing an additional 723 shares during the last quarter. Alpine Woods Capital Investors LLC acquired a new position in Carlsmed in the 2nd quarter valued at $161,000. Finally, Bank of New York Mellon Corp purchased a new position in Carlsmed during the second quarter worth about $181,000.

Carlsmed Stock Performance

Shares of NASDAQ CARL opened at $15.34 on Tuesday. The stock has a market cap of $418.78 million, a price-to-earnings ratio of -10.73 and a beta of 1.95. Carlsmed has a 12 month low of $8.50 and a 12 month high of $17.23. The company has a 50 day simple moving average of $13.80 and a two-hundred day simple moving average of $11.89. 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 (NASDAQ:CARL) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.01. Carlsmed had a negative return on equity of 38.06% and a negative net margin of 57.42%.The business had revenue of $18.94 million for the quarter. As a group, analysts predict that Carlsmed will post -1.5 earnings per share for the current year.

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.