Truist Financial Has Lowered Expectations for Carlsmed (NASDAQ:CARL) Stock Price

Carlsmed (NASDAQ:CARL) had its price target lowered by research analysts at Truist Financial from $20.00 to $18.00 in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 68.54% from the stock’s previous close.

A number of other analysts have also commented on the company. Wall Street Zen raised Carlsmed from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings reaffirmed a “sell (e-)” rating on shares of Carlsmed in a research note on Monday, December 22nd. Zacks Research raised Carlsmed from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, The Goldman Sachs Group decreased their price objective on Carlsmed from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.67.

Carlsmed Price Performance

Carlsmed stock opened at $10.68 on Wednesday. Carlsmed has a 12 month low of $8.50 and a 12 month high of $17.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.87 and a quick ratio of 8.74. The business has a 50 day simple moving average of $11.21 and a 200-day simple moving average of $12.51. The stock has a market capitalization of $285.48 million and a PE ratio of -2.92.

Carlsmed (NASDAQ:CARL) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.11. The firm had revenue of $15.16 million during the quarter, compared to analysts’ expectations of $15.20 million. Carlsmed had a negative return on equity of 72.60% and a negative net margin of 58.67%.

Hedge Funds Weigh In On Carlsmed

A number of large investors have recently modified their holdings of CARL. Orbimed Advisors LLC acquired a new position in Carlsmed during the 3rd quarter worth approximately $16,772,000. Janus Henderson Group PLC increased its holdings in Carlsmed by 4.4% during the 4th quarter. Janus Henderson Group PLC now owns 1,140,618 shares of the company’s stock worth $14,087,000 after purchasing an additional 48,081 shares during the last quarter. Vanguard Group Inc. purchased a new stake in Carlsmed during the 3rd quarter worth approximately $3,042,000. TD Waterhouse Canada Inc. increased its holdings in Carlsmed by 15.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 175,405 shares of the company’s stock worth $2,154,000 after purchasing an additional 23,163 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in Carlsmed during the 3rd quarter worth approximately $2,343,000.

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”).