InMode (NASDAQ:INMD) Price Target Cut to $33.00 by Analysts at Barclays

InMode (NASDAQ:INMD) had its target price reduced by Barclays from $34.00 to $33.00 in a research note published on Friday, Benzinga reports. Barclays currently has an overweight rating on the healthcare company’s stock.

Other analysts have also recently issued research reports about the company. Needham & Company LLC reiterated a hold rating on shares of InMode in a research report on Tuesday, April 9th. UBS Group lifted their price target on InMode from $24.00 to $26.00 and gave the company a neutral rating in a report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $32.80.

InMode Trading Down 1.3 %

InMode stock opened at $17.69 on Friday. The stock has a market cap of $1.49 billion, a PE ratio of 7.69 and a beta of 2.16. The stock has a 50-day moving average price of $21.62 and a 200 day moving average price of $22.22. InMode has a 52 week low of $17.40 and a 52 week high of $48.25.

InMode (NASDAQ:INMD) last posted its quarterly earnings data on Tuesday, February 13th. The healthcare company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $126.80 million during the quarter, compared to analysts’ expectations of $124.77 million. InMode had a return on equity of 29.80% and a net margin of 40.22%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. On average, equities analysts predict that InMode will post 2.04 EPS for the current year.

Hedge Funds Weigh In On InMode

Several hedge funds and other institutional investors have recently modified their holdings of INMD. JPMorgan Chase & Co. lifted its stake in shares of InMode by 122.3% in the 1st quarter. JPMorgan Chase & Co. now owns 79,333 shares of the healthcare company’s stock valued at $2,928,000 after purchasing an additional 43,646 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of InMode by 3.9% in the 1st quarter. Bank of New York Mellon Corp now owns 110,994 shares of the healthcare company’s stock valued at $4,095,000 after purchasing an additional 4,217 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of InMode by 22.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 13,087 shares of the healthcare company’s stock valued at $484,000 after purchasing an additional 2,416 shares in the last quarter. Natixis Advisors L.P. lifted its stake in shares of InMode by 6.1% in the 1st quarter. Natixis Advisors L.P. now owns 18,591 shares of the healthcare company’s stock valued at $686,000 after purchasing an additional 1,076 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new position in shares of InMode in the 1st quarter valued at about $925,000. 68.04% of the stock is owned by institutional investors and hedge funds.

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.