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

InMode (NASDAQ:INMD) had its price target dropped by UBS Group from $16.25 to $16.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the healthcare company’s stock. UBS Group’s price objective points to a potential upside of 10.06% from the company’s current price.

INMD has been the topic of several other research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of InMode in a report on Wednesday, October 8th. Zacks Research raised InMode from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Barclays lowered their price objective on InMode from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Wall Street Zen raised shares of InMode from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of InMode in a report on Friday, October 10th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $16.80.

InMode Stock Up 0.1%

Shares of NASDAQ INMD traded up $0.01 during trading hours on Thursday, reaching $14.54. 366,927 shares of the stock traded hands, compared to its average volume of 1,156,773. The company’s 50-day simple moving average is $15.08 and its two-hundred day simple moving average is $14.66. The company has a market capitalization of $918.95 million, a P/E ratio of 5.89 and a beta of 2.11. InMode has a 52-week low of $13.14 and a 52-week high of $19.85.

InMode (NASDAQ:INMD) last issued its quarterly earnings results on Wednesday, November 5th. The healthcare company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. The business had revenue of $93.17 million for the quarter, compared to analysts’ expectations of $88.05 million. InMode had a net margin of 44.50% and a return on equity of 18.38%. The business’s quarterly revenue was down 28.5% on a year-over-year basis. During the same period last year, the business earned $0.70 earnings per share. As a group, sell-side analysts forecast that InMode will post 1.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On InMode

Several large investors have recently made changes to their positions in the business. Parallel Advisors LLC grew its position in shares of InMode by 63.1% during the second quarter. Parallel Advisors LLC now owns 1,973 shares of the healthcare company’s stock worth $28,000 after purchasing an additional 763 shares in the last quarter. American Century Companies Inc. boosted its stake in InMode by 6.1% in the 1st quarter. American Century Companies Inc. now owns 18,994 shares of the healthcare company’s stock worth $337,000 after purchasing an additional 1,087 shares during the period. CWM LLC grew its holdings in InMode by 106.4% during the 1st quarter. CWM LLC now owns 2,369 shares of the healthcare company’s stock valued at $42,000 after buying an additional 1,221 shares in the last quarter. Aviva PLC raised its position in shares of InMode by 3.9% during the second quarter. Aviva PLC now owns 33,264 shares of the healthcare company’s stock valued at $480,000 after buying an additional 1,263 shares during the last quarter. Finally, Cary Street Partners Financial LLC lifted its stake in InMode by 1.0% in the 1st quarter. Cary Street Partners Financial LLC now owns 133,867 shares of the healthcare company’s stock worth $2,375,000 after purchasing an additional 1,315 shares in the last quarter. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

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.