InMode Ltd. (NASDAQ:INMD) Given Average Recommendation of “Hold” by Brokerages

InMode Ltd. (NASDAQ:INMD) has received a consensus recommendation of “Hold” from the six research firms that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $22.40.

INMD has been the subject of several recent research reports. BTIG Research assumed coverage on InMode in a report on Thursday, October 17th. They set a “buy” rating and a $25.00 price objective for the company. Barclays reduced their price objective on shares of InMode from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, January 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a report on Thursday, October 31st.

InMode Stock Performance

INMD opened at $17.09 on Tuesday. The firm has a market cap of $1.44 billion, a P/E ratio of 9.24 and a beta of 2.12. The business has a 50 day moving average price of $17.64 and a 200 day moving average price of $17.23. InMode has a twelve month low of $14.87 and a twelve month high of $26.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Systematic Financial Management LP increased its stake in InMode by 13.3% in the third quarter. Systematic Financial Management LP now owns 982,111 shares of the healthcare company’s stock valued at $16,647,000 after purchasing an additional 115,492 shares in the last quarter. Barclays PLC grew its stake in shares of InMode by 113.5% in the 3rd quarter. Barclays PLC now owns 169,630 shares of the healthcare company’s stock valued at $2,876,000 after buying an additional 90,173 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in InMode by 54.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,480 shares of the healthcare company’s stock valued at $2,127,000 after buying an additional 44,058 shares in the last quarter. State Street Corp raised its stake in InMode by 3.7% during the 3rd quarter. State Street Corp now owns 2,044,640 shares of the healthcare company’s stock worth $34,657,000 after buying an additional 73,183 shares during the period. Finally, Unison Advisors LLC acquired a new stake in InMode in the third quarter valued at approximately $675,000. 68.04% of the stock is owned by institutional investors and hedge funds.

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.