InMode (NASDAQ:INMD) PT 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 report published on Monday morning, Benzinga reports. The firm currently has an overweight rating on the healthcare company’s stock.

INMD has been the subject of a number of other research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a report on Thursday, October 10th. Canaccord Genuity Group reduced their target price on InMode from $21.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Finally, Jefferies Financial Group cut shares of InMode from a “buy” rating to a “hold” rating and dropped their price target for the company 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 one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.00.

InMode Trading Up 1.4 %

Shares of NASDAQ:INMD opened at $16.88 on Monday. InMode has a 12-month low of $14.87 and a 12-month high of $26.80. The business has a 50 day moving average of $16.24 and a two-hundred day moving average of $17.47. The company has a market capitalization of $1.42 billion, a PE ratio of 8.00 and a beta of 2.17.

InMode (NASDAQ:INMD) last announced 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). InMode had a return on equity of 21.00% and a net margin of 35.81%. The firm had revenue of $102.60 million for the quarter, compared to analysts’ expectations of $104.81 million. During the same period last year, the company posted $0.65 earnings per share. The business’s quarterly revenue was down 24.6% on a year-over-year basis. Equities research analysts predict that InMode will post 1.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Asset Dedication LLC purchased a new stake in shares of InMode during the second quarter worth $33,000. Headlands Technologies LLC grew its stake in InMode by 118.2% during the 1st quarter. Headlands Technologies LLC now owns 1,916 shares of the healthcare company’s stock valued at $41,000 after acquiring an additional 1,038 shares in the last quarter. nVerses Capital LLC acquired a new stake in InMode in the 2nd quarter valued at about $42,000. Trust Co. of Vermont lifted its stake in InMode by 32.8% in the 4th quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock worth $48,000 after purchasing an additional 536 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its holdings in shares of InMode by 69.2% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,200 shares of the healthcare company’s stock worth $49,000 after purchasing an additional 900 shares during the last quarter. 68.04% of the stock is owned by institutional investors and hedge funds.

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.