InMode price target lowered to $27 from $29 at Barclays

Barclays analyst Matt Miksic lowered the firm’s price target on InMode to $27 from $29 and keeps an Overweight rating on the shares. The company’s preliminary Q3 sales were above consensus on a pro forma basis, “importantly clearing back-orders of new products,” the analyst tells investors in a research note. However, the firm says management viewed the Q3 results as in line with internal objectives and in line with typical Q3 seasonality. It is encouraged by the initial Q3 results.