Robert W. Baird Lowers InMode (NASDAQ:INMD) Price Target to $57.00

InMode (NASDAQ:INMDGet Rating) had its target price decreased by stock analysts at Robert W. Baird from $82.00 to $57.00 in a research report issued to clients and investors on Tuesday, The Fly reports. Robert W. Baird’s price objective suggests a potential upside of 122.57% from the company’s current price.

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 target price on shares of InMode in a report on Monday, April 18th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $81.00.

Shares of INMD opened at $25.61 on Tuesday. InMode has a 12 month low of $23.68 and a 12 month high of $99.27. The stock’s 50-day moving average is $35.51 and its two-hundred day moving average is $56.65. The stock has a market cap of $2.13 billion, a PE ratio of 13.34 and a beta of 2.12.

InMode (NASDAQ:INMDGet Rating) last announced its quarterly earnings data on Monday, May 2nd. The healthcare company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.04. InMode had a return on equity of 46.14% and a net margin of 46.14%. The firm had revenue of $85.90 million for the quarter, compared to analysts’ expectations of $83.45 million. During the same quarter in the prior year, the firm posted $0.69 earnings per share. InMode’s revenue for the quarter was up 31.1% compared to the same quarter last year.

Several hedge funds have recently added to or reduced their stakes in INMD. Pacer Advisors Inc. lifted its stake in shares of InMode by 420.3% in the 4th quarter. Pacer Advisors Inc. now owns 385 shares of the healthcare company’s stock valued at $27,000 after purchasing an additional 311 shares during the last quarter. CWM LLC lifted its stake in shares of InMode by 871.6% in the 1st quarter. CWM LLC now owns 787 shares of the healthcare company’s stock valued at $29,000 after purchasing an additional 706 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of InMode by 540.7% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 378 shares of the healthcare company’s stock valued at $30,000 after purchasing an additional 319 shares during the last quarter. Trust Co. of Vermont acquired a new stake in shares of InMode in the 4th quarter valued at $35,000. Finally, Knuff & Co LLC lifted its stake in shares of InMode by 100.0% in the 4th quarter. Knuff & Co LLC now owns 500 shares of the healthcare company’s stock valued at $35,000 after purchasing an additional 250 shares during the last quarter. 53.58% of the stock is owned by institutional investors and hedge funds.

About InMode (Get Rating)

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.

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