InMode (NASDAQ:INMD) Price Target Raised to $29.00 at Barclays

InMode (NASDAQ:INMD) had its price target increased by equities research analysts at Barclays from $26.00 to $29.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the healthcare company’s stock. Barclays‘s target price would indicate a potential upside of 65.71% from the stock’s previous close.

A number of other brokerages also recently issued reports on INMD. BTIG Research assumed coverage on InMode in a report on Thursday, October 17th. They issued a “buy” rating and a $25.00 price target on the stock. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a report on Tuesday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $23.00.

InMode Stock Performance

NASDAQ INMD opened at $17.50 on Wednesday. The company has a market cap of $1.47 billion, a PE ratio of 9.46 and a beta of 2.13. The firm’s 50 day moving average price is $17.48 and its 200-day moving average price is $17.20. InMode has a 52-week low of $14.87 and a 52-week high of $26.80.

Institutional Investors Weigh In On InMode

Several institutional investors have recently added to or reduced their stakes in INMD. Nisa Investment Advisors LLC boosted its stake in InMode by 314.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,550 shares of the healthcare company’s stock worth $60,000 after purchasing an additional 2,694 shares in the last quarter. Quarry LP raised its holdings in shares of InMode by 154.3% in the third quarter. Quarry LP now owns 3,781 shares of the healthcare company’s stock worth $64,000 after buying an additional 2,294 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of InMode by 6.2% during the third quarter. National Bank of Canada FI now owns 9,985 shares of the healthcare company’s stock worth $169,000 after buying an additional 579 shares during the period. GW Henssler & Associates Ltd. acquired a new stake in shares of InMode during the third quarter worth $177,000. Finally, DGS Capital Management LLC purchased a new stake in shares of InMode during the third quarter valued at $182,000. Institutional investors and hedge funds 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.