InMode (NASDAQ:INMD) Stock Price Target Lowered at Robert W. Baird

InMode (NASDAQ:INMD) had its price target cut by equities researchers at Robert W. Baird from $17.00 to $15.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the healthcare company’s stock. Robert W. Baird‘s price objective points to a potential upside of 9.25% from the stock’s previous close.

Separately, Weiss Ratings cut InMode from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, November 2nd. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $16.33.

InMode Trading Up 3.5%

Shares of INMD stock opened at $13.73 on Thursday. The company has a market capitalization of $789.21 million, a P/E ratio of 11.16 and a beta of 1.98. The business’s 50 day moving average is $14.16 and its two-hundred day moving average is $14.31. InMode has a twelve month low of $12.72 and a twelve month high of $16.67.

InMode (NASDAQ:INMD) last posted its quarterly earnings data on Wednesday, November 11th. The healthcare company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The firm had revenue of $92.14 million for the quarter, compared to analyst estimates of $91.58 million. InMode had a net margin of 20.69% and a return on equity of 11.99%. InMode’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm posted $0.38 EPS.

Institutional Investors Weigh In On InMode

Several institutional investors and hedge funds have recently made changes to their positions in INMD. IFP Advisors Inc purchased a new stake in shares of InMode in the second quarter valued at about $31,000. Parallel Advisors LLC lifted its stake in InMode by 43.3% in the 3rd quarter. Parallel Advisors LLC now owns 4,934 shares of the healthcare company’s stock valued at $70,000 after buying an additional 1,490 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of InMode during the first quarter valued at $163,000. Signaturefd LLC lifted its holdings in InMode by 50.0% in the 3rd quarter. Signaturefd LLC now owns 12,014 shares of the healthcare company’s stock valued at $170,000 after purchasing an additional 4,006 shares in the last quarter. Finally, Money Concepts Capital Corp boosted its stake in shares of InMode by 13.1% during the 3rd quarter. Money Concepts Capital Corp now owns 12,993 shares of the healthcare company’s stock worth $184,000 after purchasing an additional 1,506 shares during the last quarter. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

InMode Company Profile

InMode Ltd. is an Israel-based medical technology company that develops energy-based systems for minimally invasive aesthetic and medical procedures. Its technologies use radiofrequency energy to support treatments such as body contouring, skin tightening and facial rejuvenation, as well as certain women’s health applications. The company’s product portfolio includes platforms and handpieces such as BodyTite and FaceTite for body and facial contouring, and Morpheus8 for fractional radiofrequency skin treatments.