InMode (NASDAQ:INMD) Cut to “Neutral” at BTIG Research

BTIG Research downgraded shares of InMode (NASDAQ:INMD) from a buy rating to a neutral rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports.

INMD has been the subject of a number of other reports. Robert W. Baird lowered InMode from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $22.00 to $16.00 in a research note on Monday. Jefferies Financial Group lowered their target price on InMode from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Baird R W downgraded shares of InMode from a “strong-buy” rating to a “hold” rating in a report on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research note on Monday. Finally, Barclays increased their target price on shares of InMode from $26.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $18.54.

InMode Stock Performance

NASDAQ:INMD opened at $14.70 on Tuesday. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 6.26 and a beta of 1.96. InMode has a 1 year low of $13.68 and a 1 year high of $19.85. The business has a fifty day moving average of $16.98 and a 200-day moving average of $17.57.

InMode (NASDAQ:INMD) last released its earnings results on Monday, April 28th. The healthcare company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.14). The company had revenue of $77.87 million for the quarter, compared to analyst estimates of $82.21 million. InMode had a net margin of 45.91% and a return on equity of 18.25%. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 EPS. On average, equities research analysts predict that InMode will post 1.75 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC lifted its position in shares of InMode by 113.5% in the 3rd quarter. Barclays PLC now owns 169,630 shares of the healthcare company’s stock valued at $2,876,000 after acquiring an additional 90,173 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of InMode during the 3rd quarter worth about $219,000. Tidal Investments LLC grew its holdings in InMode by 4.6% during the third quarter. Tidal Investments LLC now owns 71,039 shares of the healthcare company’s stock valued at $1,204,000 after purchasing an additional 3,140 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of InMode by 4.6% during the 3rd quarter. Franklin Resources Inc. now owns 17,559 shares of the healthcare company’s stock worth $292,000 after buying an additional 768 shares during the period. Finally, DGS Capital Management LLC acquired a new position in InMode in the 3rd quarter valued at $182,000. 68.04% of the stock is currently owned by institutional investors and hedge funds.

InMode Company Profile

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.