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

InMode (NASDAQ:INMD) had its price target upped by equities researchers at Barclays from $26.00 to $29.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the healthcare company’s stock. Barclays‘s target price would indicate a potential upside of 58.90% from the company’s previous close.

Several other research analysts also recently weighed in on the company. BTIG Research began coverage on InMode in a research note on Thursday, October 17th. They issued a “buy” rating and a $25.00 target price on the stock. Needham & Company LLC restated a “hold” rating on shares of InMode in a research note on Tuesday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $23.00.

InMode Trading Up 1.6 %

Shares of INMD stock opened at $18.25 on Wednesday. The business’s 50 day moving average is $17.41 and its two-hundred day moving average is $17.20. InMode has a twelve month low of $14.87 and a twelve month high of $26.80. The company has a market capitalization of $1.53 billion, a P/E ratio of 9.86 and a beta of 2.13.

Institutional Trading of InMode

A number of institutional investors have recently modified their holdings of INMD. State Street Corp boosted its position in InMode by 3.7% during the third quarter. State Street Corp now owns 2,044,640 shares of the healthcare company’s stock worth $34,657,000 after purchasing an additional 73,183 shares in the last quarter. Geode Capital Management LLC boosted its position in InMode by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,101,951 shares of the healthcare company’s stock worth $18,678,000 after purchasing an additional 6,282 shares in the last quarter. Systematic Financial Management LP boosted its position in InMode by 13.3% during the third quarter. Systematic Financial Management LP now owns 982,111 shares of the healthcare company’s stock worth $16,647,000 after purchasing an additional 115,492 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its position in InMode by 0.4% during the third quarter. Disciplined Growth Investors Inc. MN now owns 808,149 shares of the healthcare company’s stock worth $13,698,000 after purchasing an additional 3,191 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in 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 purchasing an additional 82,100 shares in the last quarter. 68.04% of the stock is currently owned by hedge funds and other 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.