Carlsmed (NASDAQ:CARL) Given New $22.00 Price Target at Needham & Company LLC

Carlsmed (NASDAQ:CARL) had its target price upped by Needham & Company LLC from $17.00 to $22.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently weighed in on CARL. Wall Street Zen raised Carlsmed from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. BTIG Research upped their target price on Carlsmed from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Truist Financial increased their price target on Carlsmed from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Carlsmed in a research note on Wednesday, November 4th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Carlsmed has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Carlsmed Price Performance

Shares of CARL opened at $18.60 on Wednesday. The company has a market cap of $507.78 million, a price-to-earnings ratio of -12.57 and a beta of 1.97. Carlsmed has a twelve month low of $8.50 and a twelve month high of $19.15. 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 company has a 50 day moving average of $14.91 and a two-hundred day moving average of $12.54.

Carlsmed (NASDAQ:CARL) last released its quarterly earnings results on Tuesday, November 10th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.08. The business had revenue of $21.55 million for the quarter. Carlsmed had a negative net margin of 55.82% and a negative return on equity of 40.55%. As a group, analysts predict that Carlsmed will post -1.50 earnings per share for the current fiscal year.

Institutional Trading of Carlsmed

Several large investors have recently made changes to their positions in CARL. Jupiter Topco LLC purchased a new position in Carlsmed in the 2nd quarter valued at $12,992,000. Janus Henderson Group PLC grew its holdings in shares of Carlsmed by 7.6% during the first quarter. Janus Henderson Group PLC now owns 1,227,452 shares of the company’s stock worth $11,108,000 after buying an additional 86,834 shares in the last quarter. Parkman Healthcare Partners LLC purchased a new stake in shares of Carlsmed during the second quarter worth $6,200,000. BlackRock Inc. acquired a new stake in shares of Carlsmed in the second quarter valued at about $5,528,000. Finally, Russell Investments Group Ltd. raised its position in shares of Carlsmed by 85.3% in the third quarter. Russell Investments Group Ltd. now owns 257,805 shares of the company’s stock valued at $3,627,000 after buying an additional 118,663 shares during the last quarter.

Key Headlines Impacting Carlsmed

Investors following CARL have been watching these headlines:

• Positive Sentiment: Several firms raised their targets while maintaining Buy ratings: BTIG lifted its target to $26 from $24, Truist to $23 from $20, and Needham to $22 from $17. The revisions signal improved analyst expectations following the quarterly report. Analysts raise Carlsmed forecasts
• Positive Sentiment: Management pointed to new DRG-related tailwinds and product launches planned for Q4 as additional potential support for growth. Carlsmed outlook and launches
• Neutral Sentiment: Broad strength in biotech and healthcare stocks may have added to CARL’s move, so sector-wide momentum could be contributing alongside the company-specific news. Healthcare stocks move higher

Carlsmed Company Profile

Carlsmed, Inc. is a medical technology company focused on personalized solutions for spine surgery. Its technology uses patient-specific planning and implant design to help surgeons plan spinal-fusion procedures. The company’s products include aprevo®, a line of patient-specific interbody implants made using 3D printing. Carlsmed’s platform is designed to use a patient’s imaging and surgical plan to tailor implant geometry and support alignment goals. Founded in 2018 and based in Carlsbad, California, Carlsmed serves the U.S. market.