InMode (NASDAQ:INMD) Price Target Raised to $45.00

InMode (NASDAQ:INMD) had its price target boosted by investment analysts at Barclays from $27.00 to $45.00 in a research note issued on Wednesday, The Fly reports. The firm currently has an “overweight” rating on the healthcare company’s stock. Barclays‘s price target would indicate a potential upside of 11.28% from the stock’s current price.

INMD has been the subject of a number of other research reports. Canaccord Genuity began coverage on shares of InMode in a report on Tuesday, September 3rd. They issued a “buy” rating and a $30.00 price objective for the company. UBS Group began coverage on shares of InMode in a report on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 price objective for the company. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $45.00 price objective (up previously from $27.00) on shares of InMode in a report on Wednesday. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. InMode has an average rating of “Buy” and an average target price of $38.60.

Shares of INMD traded down $1.17 during mid-day trading on Wednesday, hitting $40.44. 1,335,000 shares of the company were exchanged, compared to its average volume of 997,418. InMode has a 1-year low of $13.06 and a 1-year high of $43.64. The company has a quick ratio of 3.89, a current ratio of 4.23 and a debt-to-equity ratio of 0.01. The firm’s 50 day simple moving average is $27.84.

InMode (NASDAQ:INMD) last released its quarterly earnings data on Tuesday, November 5th. The healthcare company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.13. The business had revenue of $40.01 million during the quarter, compared to analyst estimates of $35.74 million. The firm’s revenue was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.26 EPS. As a group, sell-side analysts expect that InMode will post 1.38 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in INMD. Optimum Investment Advisors acquired a new stake in shares of InMode during the 3rd quarter worth approximately $28,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of InMode during the 3rd quarter worth approximately $32,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of InMode during the 3rd quarter worth approximately $122,000. Rice Hall James & Associates LLC acquired a new stake in shares of InMode during the 3rd quarter worth approximately $1,244,000. Finally, Emerald Advisers LLC acquired a new stake in shares of InMode during the 3rd quarter worth approximately $543,000. Institutional investors and hedge funds own 0.55% of the company’s stock.

InMode Company Profile

InMode Ltd. designs, develops, manufactures, and markets minimally-invasive aesthetic medical products based on its proprietary radio frequency assisted lipolysis and deep subdermal fractional radio frequency technologies. The company offers minimally-invasive aesthetic medical products for procedures, such as liposuction with simultaneous skin tightening, body and face contouring, and ablative skin rejuvenation treatments.

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