InMode (NASDAQ:INMD) Price Target Cut to $26.00 by Analysts at Barclays

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

Several other equities research analysts also recently commented on the stock. BTIG Research initiated coverage on shares of InMode in a research report on Thursday, October 17th. They set a “buy” rating and a $25.00 target price on the stock. Needham & Company LLC reissued 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 assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.40.

InMode Trading Down 8.0 %

InMode stock opened at $16.01 on Thursday. The company has a market capitalization of $1.34 billion, a PE ratio of 8.65 and a beta of 2.12. The stock has a 50-day moving average price of $18.11 and a two-hundred day moving average price of $17.32. InMode has a 12 month low of $14.87 and a 12 month high of $26.80.

Hedge Funds Weigh In On InMode

Hedge funds and other institutional investors have recently bought and sold shares of the company. Systematic Financial Management LP raised its position in shares of InMode by 13.3% in the 3rd quarter. Systematic Financial Management LP now owns 982,111 shares of the healthcare company’s stock worth $16,647,000 after acquiring an additional 115,492 shares in the last quarter. Barclays PLC increased its holdings in InMode by 113.5% in the third quarter. Barclays PLC now owns 169,630 shares of the healthcare company’s stock worth $2,876,000 after purchasing an additional 90,173 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in InMode by 54.1% in 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 valued at $2,127,000 after buying an additional 44,058 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of InMode by 129.7% during the 2nd quarter. Hsbc Holdings PLC now owns 90,280 shares of the healthcare company’s stock worth $1,659,000 after buying an additional 50,974 shares in the last quarter. Finally, State Street Corp grew its position in shares of InMode by 3.7% during the 3rd 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. 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.