Robert W. Baird Downgrades InMode (NASDAQ:INMD) to Neutral

InMode (NASDAQ:INMD) was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report issued on Monday,Briefing.com Automated Import reports. They presently have a $16.00 target price on the healthcare company’s stock, down from their prior target price of $22.00. Robert W. Baird’s price objective indicates a potential upside of 13.81% from the company’s current price.

INMD has been the topic of a number of other reports. Barclays lifted their price target on InMode from $26.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research report on Monday. Finally, Jefferies Financial Group decreased their price objective on shares of InMode from $16.00 to $15.00 and set a “hold” rating for the company in a report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, InMode presently has a consensus rating of “Hold” and a consensus target price of $20.20.

InMode Stock Performance

Shares of INMD stock traded down $2.16 on Monday, hitting $14.06. 3,395,060 shares of the company’s stock traded hands, compared to its average volume of 1,241,886. The stock has a market capitalization of $977.93 million, a price-to-earnings ratio of 5.96 and a beta of 1.96. The company’s fifty day simple moving average is $17.36 and its 200 day simple moving average is $17.65. InMode has a one year low of $13.68 and a one year high of $19.85.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in InMode by 13,923.8% in the 1st quarter. GAMMA Investing LLC now owns 2,945 shares of the healthcare company’s stock worth $520,000 after buying an additional 2,924 shares in the last quarter. Orion Capital Management LLC bought a new stake in shares of InMode in the fourth quarter worth approximately $65,000. SBI Securities Co. Ltd. purchased a new position in shares of InMode during the fourth quarter valued at approximately $87,000. Farther Finance Advisors LLC lifted its position in InMode by 26.2% during the fourth quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company’s stock valued at $93,000 after purchasing an additional 1,154 shares during the period. Finally, Covestor Ltd boosted its holdings in InMode by 13.9% in the fourth quarter. Covestor Ltd now owns 5,936 shares of the healthcare company’s stock worth $99,000 after purchasing an additional 723 shares during the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

About InMode

InMode Ltd. designs, develops, manufactures, and markets minimally invasive aesthetic medical products based on its proprietary radiofrequency assisted lipolysis and deep subdermal fractional radiofrequency technologies in the United States and internationally. The company offers minimally invasive aesthetic medical products for various procedures, such as liposuction with simultaneous skin tightening, body and face contouring, and ablative skin rejuvenation treatments, as well as for use in women's health conditions and procedures.