InMode (NASDAQ:INMD) Stock Price Expected to Rise, Barclays Analyst Says

InMode (NASDAQ:INMD) had its target price upped by Barclays from $26.00 to $29.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the healthcare company’s stock. Barclays‘s target price suggests a potential upside of 58.90% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research note on Tuesday. BTIG Research started coverage on InMode in a research report on Thursday, October 17th. They set a “buy” rating and a $25.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $23.00.

InMode Stock Performance

Shares of INMD opened at $18.25 on Wednesday. The stock has a 50-day simple moving average of $17.41 and a 200-day simple moving average of $17.20. The stock has a market capitalization of $1.53 billion, a PE ratio of 9.86 and a beta of 2.13. InMode has a 1 year low of $14.87 and a 1 year high of $26.80.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Systematic Financial Management LP increased its position in InMode by 13.3% during the third quarter. Systematic Financial Management LP now owns 982,111 shares of the healthcare company’s stock worth $16,647,000 after buying an additional 115,492 shares during the period. Barclays PLC increased its position in 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 buying an additional 90,173 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in InMode by 54.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,480 shares of the healthcare company’s stock worth $2,127,000 after buying an additional 44,058 shares during the period. State Street Corp increased its position in InMode by 3.7% during the third quarter. State Street Corp now owns 2,044,640 shares of the healthcare company’s stock worth $34,657,000 after buying an additional 73,183 shares during the period. Finally, Unison Advisors LLC acquired a new position in InMode during the third quarter worth approximately $675,000. Institutional investors and hedge funds 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.