UBS Group Issues Pessimistic Forecast for InMode (NASDAQ:INMD) Stock Price

InMode (NASDAQ:INMD - Get Free Report) had its target price reduced by research analysts at UBS Group from $19.00 to $16.25 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the healthcare company's stock. UBS Group's price target indicates a potential upside of 14.89% from the stock's current price.

Other research analysts have also issued research reports about the company. Canaccord Genuity Group lowered their price target on InMode from $17.00 to $15.00 and set a "hold" rating on the stock in a research report on Tuesday. Robert W. Baird cut InMode from an "outperform" rating to a "neutral" rating and decreased their price target for the company from $22.00 to $16.00 in a research report on Monday. Needham & Company LLC reissued a "hold" rating on shares of InMode in a research note on Monday. Jefferies Financial Group lowered their price objective on InMode from $16.00 to $15.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Finally, Barclays upped 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. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, InMode presently has an average rating of "Hold" and a consensus price target of $19.38.

InMode Trading Down 0.8 %

InMode stock traded down $0.12 on Tuesday, reaching $14.14. 549,236 shares of the stock were exchanged, compared to its average volume of 1,187,055. The stock has a market cap of $983.84 million, a PE ratio of 6.04 and a beta of 1.96. The firm has a fifty day moving average price of $17.25 and a two-hundred day moving average price of $17.63. InMode has a twelve month low of $13.68 and a twelve month high of $19.85.

Hedge Funds Weigh In On InMode

Several hedge funds have recently made changes to their positions in INMD. Strategic Global Advisors LLC lifted its stake in shares of InMode by 3.0% in the 4th 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 last quarter. 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 purchasing an additional 700 shares during the period. Thrivent Financial for Lutherans raised its holdings in InMode by 6.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 12,586 shares of the healthcare company's stock worth $210,000 after purchasing an additional 721 shares in the last quarter. Covestor Ltd lifted its position in shares of InMode by 13.9% during the 4th quarter. Covestor Ltd now owns 5,936 shares of the healthcare company's stock valued at $99,000 after acquiring an additional 723 shares during the period. Finally, Franklin Resources Inc. raised its position 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 worth $292,000 after buying an additional 768 shares during the period. 68.04% of the stock is owned by hedge funds and other institutional investors.

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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