InMode (NASDAQ:INMD) Price Target Lowered to $27.00 at Barclays

InMode (NASDAQ:INMD) had its target price trimmed by Barclays from $29.00 to $27.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has an overweight rating on the healthcare company’s stock.

Several other brokerages have also issued reports on INMD. Needham & Company LLC reaffirmed a hold rating on shares of InMode in a research note on Thursday, October 10th. Jefferies Financial Group downgraded InMode from a buy rating to a hold rating and lowered their price target for the stock from $21.00 to $19.00 in a report on Tuesday, July 23rd. Finally, Canaccord Genuity Group dropped their price objective on shares of InMode from $21.00 to $16.00 and set a hold rating on the stock in a report on Friday, July 12th. Four 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 presently has an average rating of Hold and a consensus price target of $22.00.

InMode Trading Up 0.9 %

INMD opened at $16.65 on Monday. The stock’s 50 day simple moving average is $16.24 and its 200-day simple moving average is $17.50. The stock has a market cap of $1.40 billion, a PE ratio of 7.89 and a beta of 2.17. InMode has a 1 year low of $14.87 and a 1 year high of $26.80.

InMode (NASDAQ:INMD) last issued its earnings results on Thursday, August 1st. The healthcare company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.04). InMode had a net margin of 35.81% and a return on equity of 21.00%. The firm had revenue of $102.60 million during the quarter, compared to analyst estimates of $104.81 million. During the same quarter in the prior year, the firm posted $0.65 EPS. The firm’s revenue for the quarter was down 24.6% on a year-over-year basis. Equities analysts forecast that InMode will post 1.63 earnings per share for the current fiscal year.

Institutional Trading of InMode

Large investors have recently added to or reduced their stakes in the company. Asset Dedication LLC acquired a new stake in InMode in the 2nd quarter valued at about $33,000. Headlands Technologies LLC lifted its position in shares of InMode by 118.2% in the first quarter. Headlands Technologies LLC now owns 1,916 shares of the healthcare company’s stock valued at $41,000 after buying an additional 1,038 shares during the last quarter. nVerses Capital LLC bought a new position in shares of InMode during the 2nd quarter worth approximately $42,000. Trust Co. of Vermont increased its holdings in shares of InMode by 32.8% during the 4th quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock worth $48,000 after acquiring an additional 536 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. raised its stake in InMode by 69.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,200 shares of the healthcare company’s stock valued at $49,000 after acquiring an additional 900 shares during the period. Institutional investors and hedge funds 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.