Barclays analyst Matt Miksic lowered the firm’s price target on InMode to $45 from $54 and keeps an Overweight rating on the shares. The firm made a number of changes to its model, reflecting the company’s full year expectations and a more conservative outlook for 2024 and beyond. The reduced estimates reflect lower sales growth and earnings due primarily to financing-related delays for new console sales in the second half of 2023, the analyst tells investors in a research note.
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Read More on INMD:
- Butler Hall Capital issues open letter to InMode board
- InMode downgraded to Neutral from Buy at UBS
- InMode sees FY23 adjusted EPS $2.53-$2.57, consensus $2.62
- InMode reports Q3 adjusted EPS 61c, consensus 64c
- InMode Reports Third Quarter 2023 Financial Results; Quarterly Revenue of $123.1M Represents 2% Year-Over-Year Growth
