Carlsmed’s (CARL) “Buy” Rating Reaffirmed at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Carlsmed (NASDAQ:CARL) in a report released on Monday morning,Benzinga reports. The brokerage currently has a $23.00 target price on the stock.

CARL has been the subject of several other reports. Weiss Ratings raised Carlsmed from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Wall Street Zen raised shares of Carlsmed from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Needham & Company LLC began coverage on shares of Carlsmed in a research report on Wednesday, July 1st. They set a “buy” rating and a $17.00 price target for the company. Finally, Truist Financial boosted their price target on shares of Carlsmed from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. 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’s stock. According to data from MarketBeat, Carlsmed presently has a consensus rating of “Moderate Buy” and an average price target of $19.25.

Carlsmed Stock Down 6.1%

NASDAQ CARL opened at $14.18 on Monday. The stock has a market capitalization of $387.11 million, a P/E ratio of -9.92 and a beta of 1.95. Carlsmed has a 52 week low of $8.50 and a 52 week high of $17.23. The company has a debt-to-equity ratio of 0.18, a quick ratio of 8.66 and a current ratio of 8.84. The stock has a fifty day moving average of $14.47 and a 200-day moving average of $12.05.

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

Hedge Funds Weigh In On Carlsmed

Hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG acquired a new position in Carlsmed during the second quarter valued at approximately $106,000. Bank of America Corp DE acquired a new stake in Carlsmed in the second quarter worth $108,000. Alpine Woods Capital Investors LLC acquired a new stake in Carlsmed in the second quarter worth $161,000. Bank of New York Mellon Corp bought a new position in shares of Carlsmed during the second quarter worth $181,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Carlsmed by 7.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,227,452 shares of the company’s stock valued at $11,108,000 after buying an additional 86,834 shares during the period.

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.