InMode (NASDAQ:INMD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of InMode (NASDAQ:INMD) from a hold rating to a buy rating in a research report report published on Saturday morning.

A number of other research analysts have also weighed in on the company. Canaccord Genuity Group upped their price objective on InMode from $14.00 to $16.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Zacks Research raised InMode from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Barclays dropped their price objective on InMode from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of InMode in a report on Wednesday, October 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a report on Friday, October 10th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.85.

InMode Trading Up 4.6%

NASDAQ:INMD opened at $16.01 on Friday. The firm has a market cap of $1.01 billion, a P/E ratio of 6.48 and a beta of 2.09. The stock’s 50 day simple moving average is $14.93 and its 200-day simple moving average is $14.65. InMode has a 12-month low of $13.14 and a 12-month high of $19.85.

InMode (NASDAQ:INMD) last released its earnings results on Wednesday, July 30th. The healthcare company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). InMode had a net margin of 44.50% and a return on equity of 18.38%. The company had revenue of $95.60 million during the quarter, compared to analyst estimates of $98.45 million. During the same period in the previous year, the firm posted $0.34 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Research analysts forecast that InMode will post 1.75 EPS for the current fiscal year.

Institutional Trading of InMode

Institutional investors have recently bought and sold shares of the company. CWA Asset Management Group LLC lifted its position in shares of InMode by 24.9% in the first quarter. CWA Asset Management Group LLC now owns 27,434 shares of the healthcare company’s stock valued at $487,000 after acquiring an additional 5,473 shares in the last quarter. North Growth Management Ltd. lifted its position in shares of InMode by 12.8% in the first quarter. North Growth Management Ltd. now owns 659,000 shares of the healthcare company’s stock valued at $11,683,000 after acquiring an additional 75,000 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of InMode in the first quarter valued at $204,000. Kirr Marbach & Co. LLC IN lifted its position in shares of InMode by 9.4% in the first quarter. Kirr Marbach & Co. LLC IN now owns 88,625 shares of the healthcare company’s stock valued at $1,572,000 after acquiring an additional 7,601 shares in the last quarter. Finally, Bessemer Group Inc. purchased a new stake in shares of InMode in the first quarter valued at $617,000. 68.04% of the stock is currently owned by hedge funds and other 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.