Carlsmed (NASDAQ:CARL) Price Target Raised to $24.00

Carlsmed (NASDAQ:CARL) had its price target hoisted by BTIG Research from $23.00 to $24.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the stock.

CARL has been the topic of a number of other research reports. Wall Street Zen raised Carlsmed from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings raised Carlsmed from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Truist Financial boosted their price objective on Carlsmed from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Needham & Company LLC began coverage on Carlsmed in a research note on Wednesday, July 1st. They issued a “buy” rating and a $17.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.50.

Carlsmed Price Performance

Carlsmed stock opened at $13.85 on Monday. The business’s 50 day simple moving average is $14.99 and its 200 day simple moving average is $12.34. Carlsmed has a 12 month low of $8.50 and a 12 month high of $17.23. The company has a market cap of $378.11 million, a price-to-earnings ratio of -9.69 and a beta of 2.09. 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 announced its quarterly earnings data 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 business had revenue of $18.94 million during the quarter. Carlsmed had a negative return on equity of 38.06% and a negative net margin of 57.42%. Sell-side analysts forecast that Carlsmed will post -1.50 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Zevenbergen Capital Investments LLC lifted its position in shares of Carlsmed by 50.4% during the third quarter. Zevenbergen Capital Investments LLC now owns 17,900 shares of the company’s stock worth $252,000 after acquiring an additional 6,000 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Carlsmed in the second quarter worth $108,000. Jupiter Topco LLC bought a new position in shares of Carlsmed in the second quarter worth $12,992,000. Parkman Healthcare Partners LLC purchased a new position in shares of Carlsmed in the second quarter valued at $6,200,000. Finally, Alpine Woods Capital Investors LLC purchased a new position in shares of Carlsmed in the second quarter valued at $161,000.

About Carlsmed

Carlsmed, Inc is a medical technology company focused on personalized solutions for spine surgery. The company develops patient-specific implants and digital planning tools intended to help surgeons address spinal deformity and degenerative conditions with procedures tailored to an individual patient’s anatomy and surgical goals.

Its principal products are offered under the aprevo brand and include personalized interbody fusion implants produced using three-dimensional printing, along with software that supports implant design and preoperative planning.