Carlsmed (NASDAQ:CARL) Given New $23.00 Price Target at Truist Financial

Carlsmed (NASDAQ:CARL) had its price target raised by Truist Financial from $20.00 to $23.00 in a report released on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. BTIG Research boosted their price objective on shares of Carlsmed from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Carlsmed in a research note on Wednesday, November 4th. Wall Street Zen upgraded shares of Carlsmed from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Needham & Company LLC upped their price target on shares of Carlsmed from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Carlsmed Stock Performance

NASDAQ:CARL opened at $18.60 on Wednesday. The company has a market capitalization of $507.78 million, a price-to-earnings ratio of -12.57 and a beta of 1.97. The business has a 50 day moving average of $14.91 and a 200 day moving average of $12.54. The company has a debt-to-equity ratio of 0.18, a current ratio of 8.84 and a quick ratio of 8.66. Carlsmed has a 1-year low of $8.50 and a 1-year high of $19.15.

Carlsmed (NASDAQ:CARL) last issued its quarterly earnings results on Tuesday, November 10th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates 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%. On average, sell-side analysts predict that Carlsmed will post -1.50 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carlsmed

A number of large investors have recently added to or reduced their stakes in CARL. Jupiter Topco LLC purchased a new position in shares of Carlsmed in the second quarter valued at about $12,992,000. Parkman Healthcare Partners LLC purchased a new stake in shares of Carlsmed during the second quarter worth about $6,200,000. BlackRock Inc. purchased a new stake in shares of Carlsmed during the second quarter worth about $5,528,000. KCM Capital Inc purchased a new stake in shares of Carlsmed during the first quarter worth about $1,810,000. Finally, Russell Investments Group Ltd. grew its stake 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 worth $3,627,000 after purchasing an additional 118,663 shares during the last quarter.

Key Headlines Impacting Carlsmed

These are some of the CARL headlines that stood out recently:

• 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
• 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
• Negative Sentiment: Despite beating the quarterly loss estimate, Carlsmed remains unprofitable, reporting a loss for the quarter.

About Carlsmed

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.