InMode (NASDAQ:INMD) Stock Gets Price Target Reduction from Robert W. Baird

InMode (NASDAQ:INMD) had its price objective trimmed by Robert W. Baird from $17.00 to $15.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the healthcare company’s stock.

Separately, Weiss Ratings lowered InMode from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, November 2nd. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, InMode currently has a consensus rating of “Hold” and an average price target of $16.33.

InMode Stock Performance

Shares of NASDAQ:INMD traded up $0.08 during midday trading on Thursday, hitting $13.27. 566,068 shares of the stock were exchanged, compared to its average volume of 615,474. The company has a market capitalization of $762.76 million, a PE ratio of 10.97 and a beta of 1.98. InMode has a 52-week low of $12.72 and a 52-week high of $16.67. The business’s fifty day simple moving average is $14.10 and its two-hundred day simple moving average is $14.29.

InMode (NASDAQ:INMD) last issued its earnings results on Wednesday, November 11th. The healthcare company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. InMode had a return on equity of 11.52% and a net margin of 19.94%. The firm had revenue of $92.14 million for the quarter, compared to the consensus estimate of $91.58 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of INMD. Steadtrust LLC increased its holdings in shares of InMode by 251.9% during the 2nd quarter. Steadtrust LLC now owns 91,500 shares of the healthcare company’s stock valued at $1,338,000 after acquiring an additional 65,500 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of InMode in the 2nd quarter valued at approximately $1,254,000. Steel Partners Holdings L.P. lifted its holdings in InMode by 154.8% in the 1st quarter. Steel Partners Holdings L.P. now owns 1,795,361 shares of the healthcare company’s stock worth $24,561,000 after purchasing an additional 1,090,697 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in InMode by 6.1% in the 1st quarter. Renaissance Technologies LLC now owns 2,586,218 shares of the healthcare company’s stock worth $35,379,000 after purchasing an additional 149,800 shares during the last quarter. Finally, CenterBook Partners LP bought a new stake in InMode during the third quarter worth approximately $1,866,000. Institutional investors own 68.04% of the company’s stock.

About InMode

InMode Ltd. is an Israel-based medical technology company that develops energy-based systems for minimally invasive aesthetic and medical procedures. Its technologies use radiofrequency energy to support treatments such as body contouring, skin tightening and facial rejuvenation, as well as certain women’s health applications. The company’s product portfolio includes platforms and handpieces such as BodyTite and FaceTite for body and facial contouring, and Morpheus8 for fractional radiofrequency skin treatments.