InMode (NASDAQ:INMD) Rating Lowered to “Neutral” at Robert W. Baird

InMode (NASDAQ:INMD) was downgraded by investment analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report released on Monday, Marketbeat reports. They presently have a $16.00 price target on the healthcare company’s stock, down from their prior price target of $22.00. Robert W. Baird’s price target suggests a potential upside of 10.96% from the stock’s current price.

A number of other research analysts have also weighed in on INMD. Needham & Company LLC restated a “hold” rating on shares of InMode in a research report on Monday. Jefferies Financial Group cut their price target on InMode from $16.00 to $15.00 and set a “hold” rating for the company in a report on Monday, April 14th. Finally, Barclays increased their target price on InMode from $26.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $19.38.

InMode Stock Performance

Shares of InMode stock opened at $14.42 on Monday. The company has a fifty day moving average of $17.16 and a 200 day moving average of $17.61. The company has a market capitalization of $1.00 billion, a P/E ratio of 6.14 and a beta of 1.96. InMode has a fifty-two week low of $13.68 and a fifty-two week high of $19.85.

Institutional Trading of InMode

Hedge funds and other institutional investors have recently bought and sold shares of the stock. OneDigital Investment Advisors LLC increased its position in InMode by 21.0% during the first quarter. OneDigital Investment Advisors LLC now owns 17,917 shares of the healthcare company’s stock valued at $318,000 after acquiring an additional 3,110 shares during the last quarter. D.A. Davidson & CO. raised its position in InMode by 12.8% in the 1st quarter. D.A. Davidson & CO. now owns 49,229 shares of the healthcare company’s stock worth $873,000 after purchasing an additional 5,578 shares during the period. Principal Financial Group Inc. lifted its stake in InMode by 1.9% in the first quarter. Principal Financial Group Inc. now owns 101,439 shares of the healthcare company’s stock worth $1,800,000 after purchasing an additional 1,877 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of InMode by 69.4% in the first quarter. Teacher Retirement System of Texas now owns 31,028 shares of the healthcare company’s stock worth $550,000 after buying an additional 12,715 shares during the period. Finally, Marathon Asset Management Ltd lifted its stake in shares of InMode by 2.7% during the 1st quarter. Marathon Asset Management Ltd now owns 187,259 shares of the healthcare company’s stock worth $3,322,000 after acquiring an additional 4,910 shares during the last quarter. Hedge funds and other 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.