InMode (NASDAQ:INMD) Lowered to “Neutral” Rating by BTIG Research

BTIG Research cut shares of InMode (NASDAQ:INMD) from a buy rating to a neutral rating in a research report released on Tuesday morning, Marketbeat reports.

Several other research firms have also issued reports on INMD. Needham & Company LLC restated a “hold” rating on shares of InMode in a research report on Monday. Robert W. Baird lowered InMode from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $22.00 to $16.00 in a research report on Monday. Barclays increased their price target on shares of InMode from $26.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Jefferies Financial Group decreased their price objective on shares of InMode from $16.00 to $15.00 and set a “hold” rating for the company in a report on Monday, April 14th. Finally, Baird R W lowered shares of InMode from a “strong-buy” rating to a “hold” rating in a report on Monday. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.38.

InMode Trading Up 1.1 %

Shares of NASDAQ INMD opened at $14.42 on Tuesday. InMode has a 1 year low of $13.68 and a 1 year high of $19.85. The firm’s 50-day moving average is $17.16 and its 200-day moving average is $17.61. The firm has a market capitalization of $1.00 billion, a PE ratio of 6.14 and a beta of 1.96.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC raised its holdings in shares of InMode by 113.5% during the third quarter. Barclays PLC now owns 169,630 shares of the healthcare company’s stock worth $2,876,000 after acquiring an additional 90,173 shares during the period. Atlas Legacy Advisors LLC bought a new position in InMode during the 4th quarter worth about $848,000. Townsquare Capital LLC lifted its holdings in shares of InMode by 43.2% in the fourth quarter. Townsquare Capital LLC now owns 17,029 shares of the healthcare company’s stock valued at $284,000 after purchasing an additional 5,137 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of InMode by 17.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 21,208 shares of the healthcare company’s stock worth $354,000 after buying an additional 3,193 shares during the period. Finally, Principal Financial Group Inc. lifted 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 valued at $1,663,000 after acquiring an additional 12,661 shares in the last quarter. 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.