InMode (NASDAQ:INMD) Downgraded by Jefferies Financial Group to “Hold”

Jefferies Financial Group downgraded shares of InMode (NASDAQ:INMD) from a buy rating to a hold rating in a research note released on Tuesday morning, MarketBeat.com reports. They currently have $19.00 target price on the healthcare company’s stock, down from their previous target price of $21.00.

Other research analysts also recently issued research reports about the company. Canaccord Genuity Group decreased their price objective on InMode from $21.00 to $16.00 and set a hold rating on the stock in a report on Friday, July 12th. Barclays decreased their price objective on InMode from $33.00 to $29.00 and set an overweight rating on the stock in a report on Monday, July 15th. Finally, Needham & Company LLC reiterated a hold rating on shares of InMode in a report on Thursday, July 11th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, InMode currently has an average rating of Hold and a consensus target price of $28.83.

InMode Stock Up 1.6 %

Shares of INMD stock opened at $17.89 on Tuesday. The business has a 50-day moving average price of $18.15 and a two-hundred day moving average price of $19.93. InMode has a 12-month low of $16.44 and a 12-month high of $48.25. The firm has a market cap of $1.50 billion, a P/E ratio of 8.48 and a beta of 2.18.

InMode (NASDAQ:INMD) last issued its quarterly earnings results on Thursday, May 2nd. The healthcare company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.09. The firm had revenue of $80.28 million during the quarter, compared to analyst estimates of $80.10 million. InMode had a return on equity of 26.15% and a net margin of 38.84%. As a group, research analysts expect that InMode will post 1.35 EPS for the current fiscal year.

Institutional Trading of InMode

A number of hedge funds have recently made changes to their positions in INMD. Boston Trust Walden Corp bought a new stake in shares of InMode in the 4th quarter worth approximately $32,366,000. Swedbank AB bought a new stake in shares of InMode in the 1st quarter worth approximately $17,634,000. Jennison Associates LLC bought a new position in InMode in the 4th quarter valued at approximately $15,101,000. Federated Hermes Inc. lifted its position in InMode by 5,512.7% in the 4th quarter. Federated Hermes Inc. now owns 582,434 shares of the healthcare company’s stock valued at $12,953,000 after acquiring an additional 572,057 shares in the last quarter. Finally, Norges Bank bought a new position in InMode in the 4th quarter valued at approximately $8,890,000. 68.04% of the stock is owned by 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.