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

InMode Ltd. (NASDAQ:INMD) has been assigned an average recommendation of “Hold” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $22.60.

A number of brokerages recently weighed in on INMD. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a report on Thursday, October 10th. Canaccord Genuity Group cut their price objective on InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a research 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 research report on Monday, October 14th. BTIG Research assumed coverage on InMode in a report on Thursday, October 17th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Jefferies Financial Group lowered InMode from a “buy” rating to a “hold” rating and lowered their price objective for the company from $21.00 to $19.00 in a report on Tuesday, July 23rd.

InMode Price Performance

NASDAQ INMD opened at $17.55 on Friday. The business has a 50 day moving average price of $16.48 and a 200 day moving average price of $17.37. The company has a market capitalization of $1.47 billion, a P/E ratio of 10.09 and a beta of 2.17. InMode has a 1-year low of $14.87 and a 1-year high of $26.80.

InMode (NASDAQ:INMD) last posted its quarterly earnings data on Thursday, August 1st. The healthcare company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the business earned $0.65 EPS. InMode’s revenue for the quarter was down 24.6% compared to the same quarter last year. On average, research analysts expect that InMode will post 1.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On InMode

A number of hedge funds and other institutional investors have recently bought and sold shares of INMD. Asset Dedication LLC acquired a new position in shares of InMode during the second quarter worth approximately $33,000. Headlands Technologies LLC lifted its position in shares of InMode by 118.2% during 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 acquired a new stake in shares of InMode during the 2nd quarter valued at $42,000. Nisa Investment Advisors LLC lifted its position in shares of InMode by 314.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,550 shares of the healthcare company’s stock valued at $60,000 after acquiring an additional 2,694 shares during the last quarter. Finally, Tributary Capital Management LLC purchased a new stake in shares of InMode in the first quarter valued at $65,000. 68.04% of the stock is currently 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.