Robert W. Baird Issues Pessimistic Forecast for InMode (NASDAQ:INMD) Stock Price

InMode (NASDAQ:INMD) had its price target lowered by equities researchers at Robert W. Baird from $17.00 to $14.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the healthcare company’s stock. Robert W. Baird’s price objective indicates a potential upside of 0.29% from the stock’s current price.

A number of other equities analysts also recently weighed in on INMD. BTIG Research reaffirmed a “neutral” rating on shares of InMode in a research note on Monday, January 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of InMode in a research note on Thursday, January 22nd. Finally, Barclays set a $19.00 target price on shares of InMode and gave the company an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $16.00.

InMode Price Performance

INMD stock opened at $13.96 on Thursday. InMode has a 1 year low of $12.72 and a 1 year high of $16.74. The company has a market cap of $884.51 million, a P/E ratio of 10.26 and a beta of 1.97. The firm has a 50-day moving average of $13.81 and a 200 day moving average of $14.34.

InMode (NASDAQ:INMD) last released its quarterly earnings results on Wednesday, May 6th. The healthcare company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). InMode had a return on equity of 13.47% and a net margin of 23.27%.The company had revenue of $82.02 million during the quarter, compared to the consensus estimate of $79.84 million. During the same period in the previous year, the company earned $0.31 earnings per share. InMode’s quarterly revenue was up 5.3% on a year-over-year basis.

Institutional Investors Weigh In On InMode

A number of hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC bought a new stake in shares of InMode during the 1st quarter valued at $163,000. Kathmere Capital Management LLC bought a new stake in shares of InMode during the 1st quarter valued at $187,000. Y Intercept Hong Kong Ltd bought a new stake in shares of InMode during the 1st quarter valued at $351,000. Inspire Investing LLC grew its position in shares of InMode by 6.1% during the 1st quarter. Inspire Investing LLC now owns 19,366 shares of the healthcare company’s stock valued at $265,000 after acquiring an additional 1,111 shares during the period. Finally, Yelin Lapidot Holdings Management Ltd. grew its position in shares of InMode by 29.9% during the 1st quarter. Yelin Lapidot Holdings Management Ltd. now owns 387,005 shares of the healthcare company’s stock valued at $5,294,000 after acquiring an additional 89,122 shares during the period. Institutional investors own 68.04% of the company’s stock.

About InMode

InMode Ltd. (NASDAQ:INMD) is a medical technology company headquartered in Israel that develops, manufactures and markets devices for aesthetic and medical treatments. The company specializes in energy-based technologies, primarily radiofrequency platforms, designed to deliver minimally-invasive and non-invasive procedures.

InMode’s product portfolio encompasses a range of modular systems targeting body contouring, facial rejuvenation, skin tightening and other cosmetic applications. Key offerings include devices built on proprietary radiofrequency and radiofrequency-assisted lipolysis, enabling physicians to perform treatments such as tissue coagulation, skin resurfacing and subdermal volumizing with reduced downtime.

The company distributes its technologies through direct sales operations and distribution partners, serving medical professionals across multiple geographies including North America, Europe, Asia Pacific and Latin America.