InMode (NASDAQ:INMD) Price Target Cut to $14.00 by Analysts at Robert W. Baird

InMode (NASDAQ:INMD) had its price target lowered by Robert W. Baird from $17.00 to $14.00 in a report published on Thursday,Benzinga reports. The firm currently has a neutral rating on the healthcare company’s stock.

INMD has been the topic of a number of other research reports. BTIG Research reiterated a “neutral” rating on shares of InMode in a report on Monday, January 26th. Barclays set a $19.00 target price on InMode and gave the stock an “overweight” rating in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of InMode in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, InMode has a consensus rating of “Hold” and an average price target of $16.00.

InMode Trading Up 2.4%

Shares of INMD stock opened at $13.92 on Thursday. The business’s 50-day moving average price is $13.81 and its 200-day moving average price is $14.34. InMode has a 12 month low of $12.72 and a 12 month high of $16.74. The firm has a market capitalization of $881.97 million, a price-to-earnings ratio of 10.24 and a beta of 1.97.

InMode (NASDAQ:INMD) last issued its quarterly earnings data on Wednesday, May 6th. The healthcare company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). InMode had a net margin of 23.27% and a return on equity of 13.50%. The business had revenue of $82.02 million during the quarter, compared to the consensus estimate of $79.84 million. During the same quarter last year, the business earned $0.31 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year.

Institutional Investors Weigh In On InMode

Hedge funds have recently added to or reduced their stakes in the business. ARGA Investment Management LP increased its stake in shares of InMode by 355.0% in the 3rd quarter. ARGA Investment Management LP now owns 143,658 shares of the healthcare company’s stock valued at $2,141,000 after acquiring an additional 112,087 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in InMode in the third quarter worth $1,564,000. State of New Jersey Common Pension Fund D increased its stake in InMode by 612.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 96,120 shares of the healthcare company’s stock valued at $1,432,000 after purchasing an additional 82,621 shares in the last quarter. Doma Perpetual Capital Management LLC raised its holdings in shares of InMode by 26.8% during the third quarter. Doma Perpetual Capital Management LLC now owns 2,838,431 shares of the healthcare company’s stock valued at $42,293,000 after purchasing an additional 599,108 shares during the period. Finally, Ancient Art L.P. bought a new position in shares of InMode during the 3rd quarter worth about $14,254,000. 68.04% of the stock is currently owned by institutional investors.

InMode Company Profile

InMode Ltd. (NASDAQ:INMD) is a medical technology company headquartered in Israel that develops, manufactures and markets devices for aesthetic and medical treatments. The company specializes in energy-based technologies, primarily radiofrequency platforms, designed to deliver minimally-invasive and non-invasive procedures.

InMode’s product portfolio encompasses a range of modular systems targeting body contouring, facial rejuvenation, skin tightening and other cosmetic applications. Key offerings include devices built on proprietary radiofrequency and radiofrequency-assisted lipolysis, enabling physicians to perform treatments such as tissue coagulation, skin resurfacing and subdermal volumizing with reduced downtime.

The company distributes its technologies through direct sales operations and distribution partners, serving medical professionals across multiple geographies including North America, Europe, Asia Pacific and Latin America.