InMode Ltd. (NASDAQ:INMD) Receives Average Recommendation of “Hold” from Brokerages

Shares of InMode Ltd. (NASDAQ:INMD) have been given an average rating of “Hold” by the six ratings firms that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $22.60.

INMD has been the subject of a number of research reports. BTIG Research assumed coverage on InMode in a research note on Thursday, October 17th. They set a “buy” rating and a $25.00 price target for the company. Barclays cut their price objective on InMode from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Thursday, October 31st.

InMode Stock Performance

Shares of NASDAQ INMD opened at $18.26 on Monday. The stock has a fifty day moving average price of $18.08 and a two-hundred day moving average price of $17.49. The firm has a market cap of $1.53 billion, a P/E ratio of 9.87 and a beta of 2.07. InMode has a 1 year low of $14.87 and a 1 year high of $26.80.

Institutional Trading of InMode

A number of hedge funds have recently modified their holdings of INMD. Doma Perpetual Capital Management LLC lifted its holdings in shares of InMode by 210.7% in the second quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company’s stock valued at $36,685,000 after purchasing an additional 1,363,841 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of InMode by 191.9% in the second quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock valued at $20,520,000 after purchasing an additional 739,629 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of InMode by 63.6% in the second quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company’s stock valued at $20,502,000 after purchasing an additional 437,122 shares in the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of InMode in the second quarter valued at $4,104,000. Finally, Systematic Financial Management LP lifted its holdings in shares of InMode by 34.5% in the second quarter. Systematic Financial Management LP now owns 866,619 shares of the healthcare company’s stock valued at $15,807,000 after purchasing an additional 222,532 shares in the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

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.