Carlsmed (NASDAQ:CARL) Coverage Initiated at Needham & Company LLC

Equities research analysts at Needham & Company LLC started coverage on shares of Carlsmed (NASDAQ:CARL) in a report issued on Wednesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $17.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 63.78% from the company’s previous close.

A number of other equities research analysts have also recently commented on CARL. Truist Financial decreased their price objective on Carlsmed from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Zacks Research raised Carlsmed from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 26th. BTIG Research restated a “buy” rating and set a $23.00 target price on shares of Carlsmed in a report on Wednesday, May 6th. Wall Street Zen raised Carlsmed from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings downgraded shares of Carlsmed from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.75.

Carlsmed Stock Performance

Carlsmed stock opened at $10.38 on Wednesday. The company has a market cap of $282.13 million and a PE ratio of -4.14. The company has a current ratio of 11.88, a quick ratio of 11.67 and a debt-to-equity ratio of 0.17. Carlsmed has a 1 year low of $8.50 and a 1 year high of $17.19. The company’s 50-day moving average is $10.70 and its two-hundred day moving average is $11.51.

Carlsmed (NASDAQ:CARL) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.11. Carlsmed had a negative net margin of 57.76% and a negative return on equity of 60.74%. The business had revenue of $16.12 million during the quarter. Equities analysts anticipate that Carlsmed will post -1.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CARL. Rhumbline Advisers acquired a new stake in shares of Carlsmed during the third quarter worth about $79,000. JPMorgan Chase & Co. acquired a new position in shares of Carlsmed in the 3rd quarter valued at approximately $37,000. Vanguard Group Inc. acquired a new position in shares of Carlsmed in the 3rd quarter valued at approximately $3,042,000. Russell Investments Group Ltd. bought a new stake in Carlsmed during the 3rd quarter worth approximately $2,128,000. Finally, BNP Paribas Financial Markets acquired a new stake in Carlsmed during the 3rd quarter worth approximately $33,000.

Carlsmed Company Profile

We are a commercial-stage medical technology company pioneering AI-enabled personalized spine surgery solutions with a mission to improve outcomes and decrease the cost of healthcare for spine surgery and beyond. We are focused on becoming the standard of care for spine fusion surgery. The aprevo Technology Platform consists of artificial intelligence (“AI”)-enabled software solutions, and interbody implants that we custom design for each patient’s unique pathology and vertebral bone topography, and single-use surgical instruments (the “aprevo Technology Platform”).