InMode Ltd. (NASDAQ:INMD) Receives Average Rating of “Hold” from Analysts

InMode Ltd. (NASDAQ:INMD) has received a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $22.60.

Several equities analysts have recently weighed in on the stock. BTIG Research began coverage on shares of InMode in a research report on Thursday, October 17th. They issued a “buy” rating and a $25.00 price objective on the stock. Barclays decreased their price target on shares of InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Finally, Needham & Company LLC restated a “hold” rating on shares of InMode in a research report on Thursday, October 31st.

InMode Trading Up 0.1 %

INMD opened at $18.13 on Monday. The stock’s fifty day simple moving average is $17.81 and its 200 day simple moving average is $17.49. InMode has a 1-year low of $14.87 and a 1-year high of $26.80. The stock has a market cap of $1.52 billion, a PE ratio of 9.80 and a beta of 2.07.

Hedge Funds Weigh In On InMode

Hedge funds have recently bought and sold shares of the business. Asset Dedication LLC acquired a new position in InMode in the 2nd quarter valued at $33,000. nVerses Capital LLC bought a new stake in InMode during the second quarter worth about $42,000. Nisa Investment Advisors LLC lifted its position in InMode by 314.7% during the third 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 period. Quarry LP grew its stake in InMode by 154.3% during the third quarter. Quarry LP now owns 3,781 shares of the healthcare company’s stock worth $64,000 after buying an additional 2,294 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in InMode by 40.7% in the 2nd quarter. National Bank of Canada FI now owns 9,406 shares of the healthcare company’s stock valued at $168,000 after buying an additional 2,720 shares during the period. 68.04% of the stock is 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.