Baird R W Downgrades InMode (NASDAQ:INMD) to Hold

InMode (NASDAQ:INMD - Get Free Report) was downgraded by equities research analysts at Baird R W from a "strong-buy" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.

Several other research firms have also recently issued reports on INMD. Robert W. Baird cut shares of InMode from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $22.00 to $16.00 in a research note on Monday. Barclays increased their price objective on shares of InMode from $26.00 to $29.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Needham & Company LLC reiterated a "hold" rating on shares of InMode in a report on Monday. Finally, Jefferies Financial Group cut their price objective on shares of InMode from $16.00 to $15.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $18.54.

InMode Trading Up 4.3 %

Shares of InMode stock traded up $0.60 during mid-day trading on Monday, hitting $14.70. 1,722,242 shares of the stock were exchanged, compared to its average volume of 1,198,199. InMode has a twelve month low of $13.68 and a twelve month high of $19.85. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 6.26 and a beta of 1.96. The company has a 50-day simple moving average of $17.07 and a 200 day simple moving average of $17.59.

InMode (NASDAQ:INMD - Get Free Report) last released its quarterly 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). InMode had a return on equity of 18.25% and a net margin of 45.91%. The firm had revenue of $77.87 million for the quarter, compared to analyst estimates of $82.21 million. During the same period in the prior year, the business earned $0.32 earnings per share. InMode's revenue for the quarter was down 3.0% on a year-over-year basis. Equities research analysts forecast that InMode will post 1.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of INMD. Barclays PLC raised its holdings in InMode by 113.5% in the third quarter. Barclays PLC now owns 169,630 shares of the healthcare company's stock valued at $2,876,000 after buying an additional 90,173 shares during the period. Virtu Financial LLC purchased a new stake in shares of InMode during the third quarter valued at approximately $219,000. Tidal Investments LLC raised its stake in shares of InMode by 4.6% during the third quarter. Tidal Investments LLC now owns 71,039 shares of the healthcare company's stock valued at $1,204,000 after purchasing an additional 3,140 shares during the period. Franklin Resources Inc. raised its stake in shares of InMode by 4.6% during the third 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 period. Finally, DGS Capital Management LLC purchased a new stake in shares of InMode during the third quarter valued at approximately $182,000. 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.