Robert W. Baird Downgrades InMode (NASDAQ:INMD) to Neutral

InMode (NASDAQ:INMD - Get Free Report) was downgraded by equities researchers at Robert W. Baird from an "outperform" rating to a "neutral" rating in a note issued to investors on Monday, MarketBeat.com reports. They currently have a $16.00 price target on the healthcare company's stock, down from their previous price target of $22.00. Robert W. Baird's price objective would indicate a potential upside of 9.81% from the company's current price.

INMD has been the subject of several other research reports. Jefferies Financial Group decreased their price target 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. Needham & Company LLC reaffirmed a "hold" rating on shares of InMode in a research report on Monday, April 28th. Finally, Barclays upped their target price on shares of InMode from $26.00 to $29.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $18.54.

InMode Stock Down 0.9 %

NASDAQ:INMD traded down $0.13 on Monday, hitting $14.57. The stock had a trading volume of 1,081,285 shares, compared to its average volume of 1,191,949. The company has a fifty day moving average price of $16.89 and a two-hundred day moving average price of $17.56. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 6.20 and a beta of 1.96. InMode has a 1-year low of $13.68 and a 1-year high of $19.85.

InMode (NASDAQ:INMD - Get Free Report) last posted its earnings results on Monday, April 28th. The healthcare company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.14). The firm had revenue of $77.87 million for the quarter, compared to analyst estimates of $82.21 million. InMode had a return on equity of 18.25% and a net margin of 45.91%. InMode's revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 EPS. As a group, analysts anticipate that InMode will post 1.75 earnings per share for the current year.

Institutional Investors Weigh In On InMode

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC increased its position in shares of InMode by 106.4% during the first quarter. CWM LLC now owns 2,369 shares of the healthcare company's stock worth $42,000 after purchasing an additional 1,221 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of InMode by 13,923.8% in the first quarter. GAMMA Investing LLC now owns 2,945 shares of the healthcare company's stock valued at $520,000 after acquiring an additional 2,924 shares during the period. Orion Capital Management LLC purchased a new stake in InMode in the 4th quarter valued at $65,000. SBI Securities Co. Ltd. acquired a new stake in InMode during the 4th quarter worth $87,000. Finally, Farther Finance Advisors LLC increased its stake in InMode by 26.2% in the fourth quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company's stock valued at $93,000 after purchasing an additional 1,154 shares during the period. 68.04% of the stock is currently owned by institutional investors and hedge funds.

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.