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.
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.
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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