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

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

Several other analysts also recently weighed in on the company. Needham & Company LLC restated a hold rating on shares of InMode in a research report on Thursday, October 10th. Canaccord Genuity Group dropped their target price on shares of InMode from $21.00 to $16.00 and set a hold rating for the company in a report on Friday, July 12th. Finally, Jefferies Financial Group lowered shares of InMode from a buy rating to a hold rating and decreased their price target for the company from $21.00 to $19.00 in a report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, InMode presently has a consensus rating of Hold and a consensus price target of $22.00.

InMode Stock Up 0.9 %

Shares of InMode stock opened at $16.65 on Monday. InMode has a 12-month low of $14.87 and a 12-month high of $26.80. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 7.89 and a beta of 2.17. The firm’s 50-day moving average price is $16.24 and its two-hundred day moving average price is $17.50.

InMode (NASDAQ:INMD) last announced its quarterly earnings data 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 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 the consensus estimate of $104.81 million. During the same period last year, the business earned $0.65 earnings per share. The business’s revenue was down 24.6% compared to the same quarter last year. On average, sell-side analysts expect that InMode will post 1.63 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC raised its holdings in InMode by 5.0% during the 4th quarter. Virtu Financial LLC now owns 30,522 shares of the healthcare company’s stock worth $679,000 after purchasing an additional 1,465 shares during the last quarter. Trust Co. of Vermont increased its stake in shares of InMode by 32.8% in the 4th quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock valued at $48,000 after acquiring an additional 536 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position 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 valued at $49,000 after acquiring an additional 900 shares during the period. Tributary Capital Management LLC acquired a new position in shares of InMode during the first quarter valued at about $65,000. Finally, Allspring Global Investments Holdings LLC grew its stake in InMode by 9.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the healthcare company’s stock valued at $165,000 after acquiring an additional 691 shares during the period. 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.