InMode (NASDAQ:INMD) Lowered to D+ at TheStreet

InMode (NASDAQ:INMDGet Rating) was downgraded by analysts at TheStreet from a “c-” rating to a “d+” rating in a research note issued to investors on Tuesday, TheStreetRatingsTable reports.

A number of other brokerages have also weighed in on INMD. Robert W. Baird dropped their target price on shares of InMode from $82.00 to $57.00 in a research report on Tuesday, May 3rd. Canaccord Genuity Group reduced their target price on InMode from $72.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, May 5th. Finally, Needham & Company LLC reissued a “buy” rating and set a $82.00 price target on shares of InMode in a research note on Monday, April 18th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $74.80.

Shares of InMode stock opened at $23.02 on Tuesday. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 11.72 and a beta of 2.12. The stock’s 50-day simple moving average is $31.58 and its 200-day simple moving average is $51.84. InMode has a 52 week low of $20.60 and a 52 week high of $99.27.

InMode (NASDAQ:INMDGet Rating) last posted its quarterly earnings results on Monday, May 2nd. The healthcare company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. InMode had a return on equity of 43.98% and a net margin of 44.79%. The company had revenue of $85.90 million for the quarter, compared to analysts’ expectations of $83.45 million. During the same period in the previous year, the firm earned $0.69 EPS. The firm’s revenue was up 31.1% compared to the same quarter last year.

A number of hedge funds and other institutional investors have recently modified their holdings of INMD. 1832 Asset Management L.P. lifted its stake in shares of InMode by 432.6% in the 4th quarter. 1832 Asset Management L.P. now owns 2,260,400 shares of the healthcare company’s stock valued at $160,320,000 after purchasing an additional 1,836,000 shares during the last quarter. Acadian Asset Management LLC lifted its position in InMode by 98.3% in the fourth quarter. Acadian Asset Management LLC now owns 3,124,466 shares of the healthcare company’s stock worth $220,492,000 after buying an additional 1,548,971 shares during the last quarter. Renaissance Technologies LLC boosted its stake in InMode by 145.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,583,362 shares of the healthcare company’s stock worth $182,334,000 after buying an additional 1,529,681 shares during the period. BlackRock Inc. increased its position in InMode by 121.6% during the fourth quarter. BlackRock Inc. now owns 2,160,940 shares of the healthcare company’s stock valued at $152,520,000 after acquiring an additional 1,185,834 shares during the last quarter. Finally, William Blair Investment Management LLC raised its stake in shares of InMode by 97.0% in the fourth quarter. William Blair Investment Management LLC now owns 1,653,921 shares of the healthcare company’s stock valued at $116,734,000 after acquiring an additional 814,527 shares during the period. 53.58% of the stock is currently owned by institutional investors.

InMode Company Profile (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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