InMode (NASDAQ:INMD) Price Target Lowered to $15.00 at Canaccord Genuity Group

InMode (NASDAQ:INMD - Get Free Report) had its price target dropped by research analysts at Canaccord Genuity Group from $17.00 to $15.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "hold" rating on the healthcare company's stock. Canaccord Genuity Group's target price would suggest a potential upside of 5.19% from the stock's current price.

A number of other equities research analysts also recently issued reports on INMD. Jefferies Financial Group reduced their price objective on shares of InMode from $16.00 to $15.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Baird R W downgraded InMode from a "strong-buy" rating to a "hold" rating in a research report on Monday. Robert W. Baird cut InMode from an "outperform" rating to a "neutral" rating and cut their price objective for the stock from $22.00 to $16.00 in a research report on Monday. Needham & Company LLC reaffirmed a "hold" rating on shares of InMode in a research report on Monday. Finally, Barclays lifted their price objective on shares of InMode from $26.00 to $29.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, InMode currently has an average rating of "Hold" and a consensus price target of $20.00.

InMode Trading Down 12.1 %

NASDAQ INMD opened at $14.26 on Tuesday. The firm has a market capitalization of $991.91 million, a P/E ratio of 6.07 and a beta of 1.96. The business has a fifty day simple moving average of $17.25 and a 200 day simple moving average of $17.63. InMode has a 12 month low of $13.68 and a 12 month high of $19.85.

Institutional Investors Weigh In On InMode

A number of institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC grew its position in shares of InMode by 113.5% during the 3rd quarter. Barclays PLC now owns 169,630 shares of the healthcare company's stock valued at $2,876,000 after purchasing an additional 90,173 shares in the last quarter. Atlas Legacy Advisors LLC purchased a new position in InMode during the fourth quarter worth about $848,000. Townsquare Capital LLC increased its stake in InMode by 43.2% in the 4th quarter. Townsquare Capital LLC now owns 17,029 shares of the healthcare company's stock worth $284,000 after acquiring an additional 5,137 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of InMode by 17.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 21,208 shares of the healthcare company's stock valued at $354,000 after acquiring an additional 3,193 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of InMode by 14.6% during the 4th quarter. Principal Financial Group Inc. now owns 99,562 shares of the healthcare company's stock valued at $1,663,000 after acquiring an additional 12,661 shares during the last quarter. 68.04% of the stock is owned by hedge funds and other institutional investors.

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.

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