InMode (NASDAQ:INMD) Rating Lowered to Neutral at BTIG Research

InMode (NASDAQ:INMD) was downgraded by equities researchers at BTIG Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports.

INMD has been the subject of a number of other research reports. Baird R W downgraded shares of InMode from a “strong-buy” rating to a “hold” rating in a research report on Monday. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research report on Monday. Robert W. Baird lowered InMode from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $22.00 to $16.00 in a research report on Monday. Barclays lifted their price target on InMode from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Finally, Jefferies Financial Group dropped their price objective on InMode from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, InMode presently has an average rating of “Hold” and a consensus target price of $18.54.

InMode Stock Performance

NASDAQ INMD opened at $14.10 on Tuesday. The stock has a market cap of $980.78 million, a price-to-earnings ratio of 6.00 and a beta of 1.96. InMode has a twelve month low of $13.68 and a twelve month high of $19.85. The firm’s 50 day moving average price is $17.07 and its two-hundred day moving average price is $17.59.

InMode (NASDAQ:INMD) last released its earnings results on Monday, April 28th. The healthcare company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.14). The business had revenue of $77.87 million for the quarter, compared to analysts’ expectations of $82.21 million. InMode had a net margin of 45.91% and a return on equity of 18.25%. The company’s revenue was down 3.0% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. On average, research analysts forecast that InMode will post 1.75 EPS for the current fiscal year.

Hedge Funds Weigh In On InMode

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Orion Capital Management LLC bought a new stake in shares of InMode during the 4th quarter worth $65,000. SBI Securities Co. Ltd. acquired a new position in InMode during the 4th quarter worth $87,000. Farther Finance Advisors LLC boosted its holdings in InMode by 26.2% during the fourth quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company’s stock valued at $93,000 after acquiring an additional 1,154 shares during the period. Covestor Ltd grew its position in shares of InMode by 13.9% in the fourth quarter. Covestor Ltd now owns 5,936 shares of the healthcare company’s stock valued at $99,000 after purchasing an additional 723 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of InMode by 6,128.7% in the fourth quarter. Lazard Asset Management LLC now owns 6,291 shares of the healthcare company’s stock worth $105,000 after purchasing an additional 6,190 shares during the period. Institutional investors and hedge funds 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.