Barclays Cuts InMode (NASDAQ:INMD) Price Target to $26.00

InMode (NASDAQ:INMD) had its price objective dropped by analysts at Barclays from $27.00 to $26.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the healthcare company’s stock. Barclays‘s target price suggests a potential upside of 62.40% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. BTIG Research started coverage on shares of InMode in a research note on Thursday, October 17th. They issued a “buy” rating and a $25.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.40.

InMode Price Performance

INMD stock opened at $16.01 on Thursday. InMode has a fifty-two week low of $14.87 and a fifty-two week high of $26.80. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 8.65 and a beta of 2.12. The business’s fifty day moving average price is $18.11 and its two-hundred day moving average price is $17.32.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in shares of 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 worth $5,090,000 after buying an additional 31,549 shares in the last quarter. Principal Financial Group Inc. raised 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 worth $1,724,000 after acquiring an additional 8,763 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of InMode by 23.3% in the 2nd quarter. Rhumbline Advisers now owns 129,554 shares of the healthcare company’s stock valued at $2,363,000 after purchasing an additional 24,460 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of InMode by 40.7% during the 2nd quarter. National Bank of Canada FI now owns 9,406 shares of the healthcare company’s stock valued at $168,000 after purchasing an additional 2,720 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in InMode by 191.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock worth $20,520,000 after purchasing an additional 739,629 shares in the last quarter. 68.04% of the stock is owned by 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.