Barclays Has Lowered Expectations for InMode (NASDAQ:INMD) Stock Price

InMode (NASDAQ:INMD) had its price objective dropped by stock analysts at Barclays from $27.00 to $26.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the healthcare company’s stock. Barclays‘s price objective suggests a potential upside of 63.52% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. BTIG Research started coverage on InMode in a report on Thursday, October 17th. They set a “buy” rating and a $25.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $22.40.

InMode Stock Down 0.7 %

Shares of NASDAQ:INMD opened at $15.90 on Thursday. The company’s 50-day moving average price is $18.06 and its 200 day moving average price is $17.30. The company has a market cap of $1.34 billion, a PE ratio of 8.59 and a beta of 2.12. InMode has a fifty-two week low of $14.87 and a fifty-two week high of $26.80.

Institutional Investors Weigh In On InMode

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INMD. Bank of New York Mellon Corp boosted its stake in InMode by 12.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 279,082 shares of the healthcare company’s stock valued at $5,090,000 after purchasing an additional 31,549 shares in the last quarter. Principal Financial Group Inc. boosted its stake in InMode by 10.2% during the second quarter. Principal Financial Group Inc. now owns 94,530 shares of the healthcare company’s stock valued at $1,724,000 after buying an additional 8,763 shares in the last quarter. Rhumbline Advisers grew its holdings in InMode by 23.3% during the second quarter. Rhumbline Advisers now owns 129,554 shares of the healthcare company’s stock worth $2,363,000 after acquiring an additional 24,460 shares during the period. National Bank of Canada FI raised its position in InMode by 40.7% in the second quarter. National Bank of Canada FI now owns 9,406 shares of the healthcare company’s stock worth $168,000 after acquiring an additional 2,720 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in InMode by 191.9% in the 2nd quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock valued at $20,520,000 after acquiring an additional 739,629 shares during the last quarter. Institutional investors 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.