Needham & Company LLC Reiterates Hold Rating for InMode (NASDAQ:INMD)

InMode (NASDAQ:INMD)‘s stock had its “hold” rating reaffirmed by stock analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports.

Several other equities research analysts also recently commented on the company. BTIG Research assumed coverage on InMode in a report on Thursday, October 17th. They set a “buy” rating and a $25.00 target price on the stock. Canaccord Genuity Group dropped their target price on InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Barclays dropped their target price on InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Finally, Jefferies Financial Group downgraded InMode from a “buy” rating to a “hold” rating and dropped their target price for the company from $21.00 to $19.00 in a report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, InMode presently has a consensus rating of “Hold” and a consensus target price of $22.60.

InMode Trading Up 1.1 %

NASDAQ INMD opened at $17.26 on Thursday. The business’s 50-day moving average price is $16.65 and its 200 day moving average price is $17.34. InMode has a twelve month low of $14.87 and a twelve month high of $26.80. The company has a market capitalization of $1.45 billion, a PE ratio of 9.33 and a beta of 2.17.

InMode (NASDAQ:INMD) last released its earnings results on Thursday, August 1st. The healthcare company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.04). InMode had a return on equity of 21.04% and a net margin of 36.26%. The business had revenue of $102.60 million for the quarter, compared to analysts’ expectations of $104.81 million. During the same quarter last year, the company posted $0.65 earnings per share. The business’s quarterly revenue was down 24.6% compared to the same quarter last year. Equities analysts predict that InMode will post 1.58 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Asset Dedication LLC purchased a new stake in InMode in the 2nd quarter worth approximately $33,000. Headlands Technologies LLC boosted its position in InMode by 118.2% during the first quarter. Headlands Technologies LLC now owns 1,916 shares of the healthcare company’s stock valued at $41,000 after purchasing an additional 1,038 shares during the last quarter. nVerses Capital LLC purchased a new position in InMode in the second quarter valued at about $42,000. Nisa Investment Advisors LLC increased its position in InMode by 314.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,550 shares of the healthcare company’s stock worth $60,000 after purchasing an additional 2,694 shares during the last quarter. Finally, EMC Capital Management purchased a new stake in shares of InMode during the 1st quarter worth about $90,000. 68.04% of the stock is currently owned by 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.