InMode (NASDAQ:INMD) PT Lowered to $36.00 at Barclays

InMode (NASDAQ:INMD) had its target price decreased by equities researchers at Barclays from $48.00 to $36.00 in a report issued on Thursday, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the healthcare company’s stock. Barclays‘s target price suggests a potential upside of 46.94% from the company’s current price.

Other research analysts have also issued research reports about the company. Zacks Investment Research upgraded InMode from a “hold” rating to a “strong-buy” rating and set a $45.00 price objective for the company in a research report on Friday, February 21st. Canaccord Genuity reiterated a “buy” rating and issued a $50.00 price target on shares of InMode in a research report on Wednesday, February 19th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $55.00 price target (up previously from $45.00) on shares of InMode in a research report on Tuesday, January 28th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $42.80.

NASDAQ:INMD traded up $1.78 on Thursday, reaching $24.50. 61,806 shares of the company’s stock traded hands, compared to its average volume of 1,526,617. The stock has a 50-day simple moving average of $32.45 and a 200-day simple moving average of $35.81. The firm has a market cap of $744.58 million and a PE ratio of 15.83. InMode has a 12 month low of $13.06 and a 12 month high of $58.76.

InMode (NASDAQ:INMD) last posted its quarterly earnings results on Tuesday, February 18th. The healthcare company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.07. The business had revenue of $47.00 million for the quarter, compared to analysts’ expectations of $42.48 million. InMode had a return on equity of 52.38% and a net margin of 39.10%. The business’s quarterly revenue was up 63.3% on a year-over-year basis. During the same period last year, the firm earned $0.22 earnings per share. As a group, sell-side analysts expect that InMode will post 1.86 EPS for the current year.

Several large investors have recently made changes to their positions in INMD. Maple Rock Capital Partners Inc. purchased a new position in shares of InMode during the third quarter valued at approximately $10,755,000. UBS Group AG raised its stake in shares of InMode by 582.8% during the fourth quarter. UBS Group AG now owns 109,600 shares of the healthcare company’s stock valued at $4,297,000 after acquiring an additional 93,548 shares in the last quarter. Millennium Management LLC bought a new stake in shares of InMode during the third quarter valued at approximately $1,535,000. Norges Bank bought a new stake in shares of InMode during the fourth quarter valued at approximately $2,155,000. Finally, Cetera Advisors LLC bought a new stake in shares of InMode during the fourth quarter valued at approximately $1,317,000. Institutional investors and hedge funds own 11.24% of the company’s stock.

About InMode

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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