InMode (NASDAQ:INMD) Cut to "Neutral" at BTIG Research

InMode (NASDAQ:INMD - Get Free Report) was downgraded by analysts at BTIG Research from a "buy" rating to a "neutral" rating in a research note issued on Tuesday,Briefing.com Automated Import reports.

A number of other research firms have also weighed in on INMD. Robert W. Baird lowered InMode from an "outperform" rating to a "neutral" rating and reduced their price objective for the company from $22.00 to $16.00 in a research report on Monday. Barclays lifted their target price on InMode from $26.00 to $29.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Jefferies Financial Group cut their price objective on InMode from $16.00 to $15.00 and set a "hold" rating for the company in a report on Monday, April 14th. Needham & Company LLC restated a "hold" rating on shares of InMode in a research report on Monday. Finally, Baird R W cut shares of InMode from a "strong-buy" rating to a "hold" rating in a research note on Monday. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $20.20.

InMode Price Performance

INMD opened at $14.26 on Tuesday. The stock's 50 day simple moving average is $17.25 and its 200 day simple moving average is $17.63. InMode has a 1 year low of $13.68 and a 1 year high of $19.85. The firm has a market cap of $991.91 million, a price-to-earnings ratio of 6.07 and a beta of 1.96.

Institutional Trading of InMode

Institutional investors and hedge funds have recently modified their holdings of the stock. Strategic Global Advisors LLC raised its position in InMode by 3.0% in the fourth quarter. Strategic Global Advisors LLC now owns 20,744 shares of the healthcare company's stock valued at $346,000 after purchasing an additional 604 shares during the period. Harvey Capital Management Inc. boosted its position in shares of InMode by 1.4% during the 4th quarter. Harvey Capital Management Inc. now owns 51,490 shares of the healthcare company's stock worth $860,000 after acquiring an additional 700 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of InMode by 6.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 12,586 shares of the healthcare company's stock valued at $210,000 after purchasing an additional 721 shares during the last quarter. Covestor Ltd lifted its holdings in shares of InMode by 13.9% in the 4th 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, Franklin Resources Inc. lifted its holdings in shares of InMode by 4.6% in the 3rd quarter. Franklin Resources Inc. now owns 17,559 shares of the healthcare company's stock valued at $292,000 after purchasing an additional 768 shares during the last quarter. Hedge funds and other institutional investors 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.

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