InMode (NASDAQ:INMD) Price Target Cut to $27.00

InMode (NASDAQ:INMD) had its target price reduced by Barclays from $29.00 to $27.00 in a report published on Monday morning, Benzinga reports. They currently have an overweight rating on the healthcare company’s stock.

Other equities analysts have also issued research reports about the company. Canaccord Genuity Group lowered their price objective on InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research note on Thursday, October 10th. Finally, Jefferies Financial Group lowered InMode from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $21.00 to $19.00 in a research note on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $22.60.

InMode Price Performance

Shares of NASDAQ:INMD opened at $17.21 on Monday. The business’s 50 day moving average price is $16.25 and its 200-day moving average price is $17.46. The firm has a market capitalization of $1.45 billion, a PE ratio of 8.16 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 quarterly earnings results on Thursday, August 1st. The healthcare company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). The firm had revenue of $102.60 million during the quarter, compared to analyst estimates of $104.81 million. InMode had a return on equity of 21.00% and a net margin of 35.81%. The business’s revenue was down 24.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 earnings per share. As a group, analysts expect that InMode will post 1.63 earnings per share for the current year.

Institutional Investors Weigh In On InMode

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Inspire Advisors LLC raised its position in InMode by 45.5% in the third quarter. Inspire Advisors LLC now owns 31,192 shares of the healthcare company’s stock valued at $529,000 after purchasing an additional 9,759 shares during the period. Unison Advisors LLC purchased a new stake in shares of InMode in the 3rd quarter valued at $675,000. Handelsbanken Fonder AB raised its holdings in shares of InMode by 6.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 128,097 shares of the healthcare company’s stock valued at $2,171,000 after buying an additional 8,028 shares during the period. SG Americas Securities LLC raised its holdings in shares of InMode by 221.7% in the 3rd quarter. SG Americas Securities LLC now owns 73,611 shares of the healthcare company’s stock valued at $1,248,000 after buying an additional 50,731 shares during the period. Finally, Systematic Financial Management LP raised its holdings in shares of InMode by 34.5% in the 2nd quarter. Systematic Financial Management LP now owns 866,619 shares of the healthcare company’s stock valued at $15,807,000 after buying an additional 222,532 shares during the period. 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.