InMode (NASDAQ:INMD) Stock Rating Lowered by Jefferies Financial Group

InMode (NASDAQ:INMD) was downgraded by investment analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Marketbeat reports. They presently have a $19.00 price target on the healthcare company’s stock, down from their prior price target of $21.00. Jefferies Financial Group’s price objective indicates a potential upside of 7.34% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research note on Thursday, July 11th. Canaccord Genuity Group cut their price objective on shares of InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Finally, Barclays cut their price objective on shares of InMode from $33.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $28.83.

InMode Stock Down 0.8 %

InMode stock opened at $17.70 on Tuesday. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 8.39 and a beta of 2.18. The firm’s fifty day moving average is $18.18 and its 200 day moving average is $19.97. InMode has a 52-week low of $16.44 and a 52-week high of $48.25.

InMode (NASDAQ:INMD) last released its quarterly earnings results on Thursday, May 2nd. The healthcare company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. The company had revenue of $80.28 million for the quarter, compared to the consensus estimate of $80.10 million. InMode had a net margin of 38.84% and a return on equity of 26.15%. On average, equities research analysts anticipate that InMode will post 1.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Summit Global Investments bought a new position in shares of InMode in the second quarter worth about $579,000. Means Investment CO. Inc. bought a new position in shares of InMode in the second quarter worth about $285,000. SG Americas Securities LLC bought a new position in shares of InMode in the second quarter worth about $417,000. U.S. Capital Wealth Advisors LLC grew its holdings in shares of InMode by 16.6% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 120,285 shares of the healthcare company’s stock worth $2,194,000 after purchasing an additional 17,100 shares during the last quarter. Finally, Cetera Advisors LLC grew its holdings in shares of InMode by 8.9% in the first quarter. Cetera Advisors LLC now owns 17,028 shares of the healthcare company’s stock worth $368,000 after purchasing an additional 1,394 shares during the last quarter. 68.04% of the stock is currently owned by institutional investors.

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.