InMode Ltd. (NASDAQ:INMD) Given Average Rating of “Hold” by Analysts

Shares of InMode Ltd. (NASDAQ:INMD) have been assigned an average recommendation of “Hold” from the six analysts that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $22.60.

Several equities analysts have recently commented on the company. BTIG Research began coverage on InMode in a report on Thursday. They set a “buy” rating and a $25.00 target price for the company. Jefferies Financial Group downgraded InMode from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $21.00 to $19.00 in a research note on Tuesday, July 23rd. Canaccord Genuity Group dropped their price objective on shares of InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Barclays reduced their target price on shares of InMode from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Finally, Needham & Company LLC restated a “hold” rating on shares of InMode in a research note on Thursday, October 10th.

Institutional Trading of InMode

Institutional investors have recently made changes to their positions in the stock. Asset Dedication LLC bought a new stake in shares of InMode in the 2nd quarter worth $33,000. Headlands Technologies LLC lifted its holdings in InMode by 118.2% in the 1st quarter. Headlands Technologies LLC now owns 1,916 shares of the healthcare company’s stock valued at $41,000 after acquiring an additional 1,038 shares during the last quarter. nVerses Capital LLC bought a new position in shares of InMode during the 2nd quarter valued at about $42,000. Tributary Capital Management LLC acquired a new position in shares of InMode in the 1st quarter worth approximately $65,000. Finally, EMC Capital Management bought a new stake in shares of InMode in the 1st quarter worth approximately $90,000. 68.04% of the stock is owned by institutional investors and hedge funds.

InMode Trading Up 3.3 %

Shares of NASDAQ INMD opened at $17.78 on Friday. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 8.43 and a beta of 2.17. InMode has a twelve month low of $14.87 and a twelve month high of $26.80. The business has a 50 day simple moving average of $16.28 and a 200-day simple moving average of $17.42.

InMode (NASDAQ:INMD) last issued its earnings results on Thursday, August 1st. The healthcare company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). InMode had a return on equity of 21.00% and a net margin of 35.81%. The business had revenue of $102.60 million for the quarter, compared to analyst estimates of $104.81 million. During the same period last year, the company posted $0.65 earnings per share. The firm’s revenue for the quarter was down 24.6% on a year-over-year basis. As a group, equities analysts predict that InMode will post 1.63 earnings per share for the current year.

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.