Barclays Cuts InMode (NASDAQ:INMD) Price Target to $26.00

InMode (NASDAQ:INMD) had its target price trimmed by Barclays from $27.00 to $26.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the healthcare company’s stock.

Several other research firms have also weighed in on INMD. BTIG Research started coverage on shares of InMode in a report on Thursday, October 17th. They set a “buy” rating and a $25.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.40.

InMode Stock Performance

Shares of NASDAQ:INMD opened at $16.01 on Thursday. The company has a market capitalization of $1.34 billion, a PE ratio of 8.65 and a beta of 2.12. The company’s fifty day moving average is $18.09 and its 200-day moving average is $17.32. InMode has a 52 week low of $14.87 and a 52 week high of $26.80.

Institutional Trading of InMode

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Doma Perpetual Capital Management LLC lifted its holdings in InMode by 210.7% during the 2nd quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company’s stock worth $36,685,000 after buying an additional 1,363,841 shares in the last quarter. Federated Hermes Inc. raised its position in shares of InMode by 191.9% during the second quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock worth $20,520,000 after acquiring an additional 739,629 shares during the last quarter. Lombard Odier Asset Management Europe Ltd acquired a new position in shares of InMode during the second quarter valued at $4,104,000. Systematic Financial Management LP boosted its holdings in InMode by 34.5% in the second quarter. Systematic Financial Management LP now owns 866,619 shares of the healthcare company’s stock valued at $15,807,000 after acquiring an additional 222,532 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in InMode by 11.6% in the second quarter. Renaissance Technologies LLC now owns 2,068,396 shares of the healthcare company’s stock worth $37,728,000 after purchasing an additional 214,200 shares during the period. Institutional investors and hedge funds 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.