InMode (NASDAQ:INMD) Price Target Lowered to $14.00 at Robert W. Baird

InMode (NASDAQ:INMD) had its target price cut by investment analysts at Robert W. Baird from $17.00 to $14.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the healthcare company’s stock. Robert W. Baird’s price objective suggests a potential upside of 3.02% from the company’s current price.

A number of other research firms also recently weighed in on INMD. Weiss Ratings restated a “sell (d+)” rating on shares of InMode in a research note on Thursday, January 22nd. Barclays set a $19.00 price objective on InMode in a report on Thursday. Finally, BTIG Research reissued a “neutral” rating on shares of InMode in a report on Monday, January 26th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, InMode currently has a consensus rating of “Hold” and an average price target of $16.00.

InMode Stock Performance

Shares of INMD opened at $13.59 on Thursday. InMode has a 52-week low of $12.72 and a 52-week high of $16.74. The business’s fifty day moving average is $13.81 and its 200-day moving average is $14.35. The firm has a market cap of $861.05 million, a price-to-earnings ratio of 9.44 and a beta of 1.97.

InMode (NASDAQ:INMD) last announced its quarterly earnings data on Wednesday, May 6th. The healthcare company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.04). InMode had a return on equity of 14.52% and a net margin of 25.33%.The business had revenue of $82.02 million for the quarter, compared to the consensus estimate of $80.33 million. During the same quarter in the prior year, the company earned $0.31 earnings per share. InMode’s quarterly revenue was up 5.3% compared to the same quarter last year.

Hedge Funds Weigh In On InMode

Several institutional investors have recently added to or reduced their stakes in INMD. Leonteq Securities AG acquired a new stake in shares of InMode during the 4th quarter worth approximately $26,000. Quadrant Capital Group LLC boosted its stake in InMode by 127.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,945 shares of the healthcare company’s stock worth $29,000 after acquiring an additional 1,091 shares in the last quarter. Advisory Services Network LLC acquired a new stake in InMode in the third quarter worth $37,000. Basepoint Wealth LLC acquired a new stake in InMode in the fourth quarter worth $39,000. Finally, State of Alaska Department of Revenue bought a new stake in InMode in the third quarter valued at $52,000. 68.04% of the stock is owned by institutional investors and hedge funds.

About InMode

InMode Ltd. (NASDAQ:INMD) is a medical technology company headquartered in Israel that develops, manufactures and markets devices for aesthetic and medical treatments. The company specializes in energy-based technologies, primarily radiofrequency platforms, designed to deliver minimally-invasive and non-invasive procedures.

InMode’s product portfolio encompasses a range of modular systems targeting body contouring, facial rejuvenation, skin tightening and other cosmetic applications. Key offerings include devices built on proprietary radiofrequency and radiofrequency-assisted lipolysis, enabling physicians to perform treatments such as tissue coagulation, skin resurfacing and subdermal volumizing with reduced downtime.

The company distributes its technologies through direct sales operations and distribution partners, serving medical professionals across multiple geographies including North America, Europe, Asia Pacific and Latin America.