InMode (NASDAQ:INMD) Price Target Lowered to $24.00 at Barclays

InMode (NASDAQ:INMD) had its target price decreased by Barclays from $29.00 to $24.00 in a report issued on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the healthcare company’s stock.

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group lowered their price objective on shares of InMode from $16.00 to $15.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Robert W. Baird cut shares of InMode from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $16.00 in a research note on Monday, April 28th. Needham & Company LLC restated a “hold” rating on shares of InMode in a research note on Monday, April 28th. Canaccord Genuity Group lowered their target price on InMode from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, UBS Group reduced their price target on InMode from $19.00 to $16.25 and set a “neutral” rating for the company in a research report on Tuesday. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, InMode currently has an average rating of “Hold” and an average target price of $18.54.

InMode Trading Down 0.9 %

Shares of INMD stock opened at $14.57 on Wednesday. InMode has a 12-month low of $13.68 and a 12-month high of $19.85. The stock has a market capitalization of $1.01 billion, a P/E ratio of 6.20 and a beta of 1.96. The firm’s 50 day moving average is $16.89 and its 200 day moving average is $17.56.

InMode (NASDAQ:INMD) last issued its quarterly earnings data on Monday, April 28th. The healthcare company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.14). InMode had a return on equity of 18.25% and a net margin of 45.91%. The firm had revenue of $77.87 million during the quarter, compared to the consensus estimate of $82.21 million. During the same period in the previous year, the firm earned $0.32 EPS. The business’s revenue was down 3.0% on a year-over-year basis. As a group, equities analysts predict that InMode will post 1.75 earnings per share for the current year.

Institutional Investors Weigh In On InMode

A number of institutional investors and hedge funds have recently bought and sold shares of the business. General American Investors Co. Inc. purchased a new stake in shares of InMode during the first quarter worth about $1,202,000. DDD Partners LLC grew its holdings in InMode by 63.1% during the 1st quarter. DDD Partners LLC now owns 989,903 shares of the healthcare company’s stock valued at $17,561,000 after buying an additional 382,938 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of InMode during the first quarter valued at approximately $1,289,000. CWM LLC lifted its holdings in shares of InMode by 106.4% in the first quarter. CWM LLC now owns 2,369 shares of the healthcare company’s stock worth $42,000 after buying an additional 1,221 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of InMode by 57.3% during the first quarter. New York State Common Retirement Fund now owns 38,453 shares of the healthcare company’s stock worth $682,000 after acquiring an additional 14,000 shares during the last quarter. 68.04% of the stock is owned by institutional investors.

InMode Company Profile

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.