InMode (NASDAQ:INMD) Price Target Lowered to $16.00 at UBS Group

InMode (NASDAQ:INMD) had its price objective trimmed by UBS Group from $16.25 to $16.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the healthcare company’s stock.

A number of other analysts have also recently weighed in on INMD. Weiss Ratings restated a “sell (d+)” rating on shares of InMode in a report on Wednesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research note on Friday, October 10th. Wall Street Zen upgraded InMode from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Canaccord Genuity Group upped their target price on InMode from $14.00 to $16.00 and gave the company a “hold” rating in a report on Friday, October 10th. Finally, Zacks Research upgraded InMode from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, InMode has an average rating of “Hold” and a consensus target price of $16.80.

InMode Trading Up 0.1%

NASDAQ:INMD traded up $0.01 during mid-day trading on Thursday, reaching $14.45. 476,205 shares of the stock were exchanged, compared to its average volume of 1,155,333. The business has a fifty day moving average price of $15.06 and a 200 day moving average price of $14.66. InMode has a 1-year low of $13.14 and a 1-year high of $19.85. The firm has a market capitalization of $913.38 million, a PE ratio of 6.69 and a beta of 2.11.

InMode (NASDAQ:INMD) last posted its quarterly earnings data on Wednesday, November 5th. The healthcare company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.06. The company had revenue of $93.17 million during the quarter, compared to analyst estimates of $88.05 million. InMode had a net margin of 41.04% and a return on equity of 14.52%. The business’s revenue for the quarter was down 28.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 EPS. On average, sell-side analysts forecast that InMode will post 1.75 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its position in InMode by 234.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company’s stock valued at $19,935,000 after buying an additional 788,157 shares during the period. Edgestream Partners L.P. purchased a new position in InMode during the 2nd quarter valued at about $8,294,000. Bank of America Corp DE increased its holdings in shares of InMode by 142.1% in the 2nd quarter. Bank of America Corp DE now owns 862,209 shares of the healthcare company’s stock valued at $12,450,000 after purchasing an additional 506,134 shares during the period. Marshall Wace LLP lifted its position in shares of InMode by 270.7% in the second quarter. Marshall Wace LLP now owns 555,573 shares of the healthcare company’s stock worth $8,022,000 after purchasing an additional 405,707 shares in the last quarter. Finally, DDD Partners LLC boosted its holdings in shares of InMode by 63.1% during the first quarter. DDD Partners LLC now owns 989,903 shares of the healthcare company’s stock worth $17,561,000 after purchasing an additional 382,938 shares during the period. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Company Profile

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.