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

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

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

InMode Price Performance

Shares of INMD stock 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. InMode has a 1 year low of $14.87 and a 1 year high of $26.80. The stock’s 50 day simple moving average is $17.48 and its two-hundred day simple moving average is $17.20.

Institutional Trading of InMode

A number of large investors have recently made changes to their positions in INMD. Systematic Financial Management LP increased its stake in InMode by 13.3% in the 3rd quarter. Systematic Financial Management LP now owns 982,111 shares of the healthcare company’s stock worth $16,647,000 after buying an additional 115,492 shares during the period. Barclays PLC increased its position in shares of InMode by 113.5% during the third quarter. Barclays PLC now owns 169,630 shares of the healthcare company’s stock worth $2,876,000 after acquiring an additional 90,173 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in shares of InMode by 12.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 720,750 shares of the healthcare company’s stock worth $12,217,000 after acquiring an additional 82,100 shares during the period. State Street Corp raised its stake in shares of InMode by 3.7% during the third quarter. State Street Corp now owns 2,044,640 shares of the healthcare company’s stock valued at $34,657,000 after acquiring an additional 73,183 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of InMode in the third quarter valued at approximately $1,104,000. 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.