InMode Ltd. (NASDAQ:INMD) Receives $16.80 Consensus PT from Brokerages

InMode Ltd. (NASDAQ:INMD) has received an average recommendation of “Hold” from the ten analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $16.80.

A number of brokerages recently commented on INMD. Weiss Ratings restated a “sell (d+)” rating on shares of InMode in a research note on Wednesday, October 8th. Wall Street Zen cut shares of InMode from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a report on Friday, October 10th. Canaccord Genuity Group lifted their price target on InMode from $14.00 to $16.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Finally, Barclays decreased their price objective on InMode from $24.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th.

InMode Stock Down 0.9%

Shares of InMode stock opened at $14.17 on Friday. InMode has a 12-month low of $13.14 and a 12-month high of $19.83. The stock has a market capitalization of $895.69 million, a P/E ratio of 6.56 and a beta of 2.11. The company has a 50-day simple moving average of $15.04 and a 200 day simple moving average of $14.62.

InMode (NASDAQ:INMD) last released its quarterly earnings data on Wednesday, November 5th. The healthcare company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.32 by $0.06. The business had revenue of $93.17 million for the quarter, compared to the consensus estimate of $88.05 million. InMode had a net margin of 41.04% and a return on equity of 14.50%. The company’s revenue was down 28.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 earnings per share. On average, equities analysts anticipate that InMode will post 1.75 earnings per share for the current year.

Institutional Investors Weigh In On InMode

A number of institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC boosted its position in shares of InMode by 63.1% in the second quarter. Parallel Advisors LLC now owns 1,973 shares of the healthcare company’s stock valued at $28,000 after acquiring an additional 763 shares during the period. CWM LLC boosted its holdings in InMode by 106.4% in the 1st quarter. CWM LLC now owns 2,369 shares of the healthcare company’s stock valued at $42,000 after purchasing an additional 1,221 shares during the period. Blue Trust Inc. boosted its holdings in InMode by 93.7% in the 3rd quarter. Blue Trust Inc. now owns 2,861 shares of the healthcare company’s stock valued at $43,000 after purchasing an additional 1,384 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of InMode during the 3rd quarter valued at $52,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of InMode in the third quarter worth $69,000. 68.04% of the stock is owned by hedge funds and other institutional investors.

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.