UBS Group Cuts InMode (NASDAQ:INMD) Price Target to $16.25

InMode (NASDAQ:INMD) had its price objective trimmed by UBS Group from $19.00 to $16.25 in a report released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the healthcare company’s stock.

Several other research analysts also recently commented on the company. Barclays raised their price objective on InMode from $26.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Baird R W cut shares of InMode from a “strong-buy” rating to a “hold” rating in a research note on Monday. Robert W. Baird lowered shares of InMode from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $16.00 in a research report on Monday. BTIG Research downgraded shares of InMode from a “buy” rating to a “neutral” rating in a research report on Tuesday. Finally, Canaccord Genuity Group dropped their target price on shares of InMode from $17.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.54.

InMode Price Performance

INMD stock opened at $14.70 on Tuesday. The stock has a market capitalization of $1.02 billion, a P/E 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 price of $16.98 and a 200-day moving average price of $17.57.

InMode (NASDAQ:INMD) last issued its quarterly earnings data on Monday, April 28th. The healthcare company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.14). The company had revenue of $77.87 million for the quarter, compared to the consensus estimate of $82.21 million. InMode had a net margin of 45.91% and a return on equity of 18.25%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the company earned $0.32 EPS. As a group, analysts anticipate that InMode will post 1.75 earnings per share for the current year.

Hedge Funds Weigh In On InMode

Several hedge funds have recently modified their holdings of INMD. Barclays PLC increased its holdings in 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 during the last quarter. Atlas Legacy Advisors LLC purchased a new stake in shares of InMode in the fourth quarter worth about $848,000. Townsquare Capital LLC boosted its stake in InMode by 43.2% during the fourth quarter. Townsquare Capital LLC now owns 17,029 shares of the healthcare company’s stock valued at $284,000 after buying an additional 5,137 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in InMode by 17.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 21,208 shares of the healthcare company’s stock valued at $354,000 after buying an additional 3,193 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in InMode by 14.6% in the 4th quarter. Principal Financial Group Inc. now owns 99,562 shares of the healthcare company’s stock worth $1,663,000 after acquiring an additional 12,661 shares during the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

About InMode

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.