InMode Ltd. (NASDAQ:INMD) Given Consensus Rating of “Hold” by Analysts

InMode Ltd. (NASDAQ:INMD) has been given a consensus recommendation of “Hold” by the eight analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $16.00.

Several analysts have recently weighed in on INMD shares. Barclays set a $19.00 target price on shares of InMode and gave the company an “overweight” rating in a research report on Thursday, May 7th. Robert W. Baird cut their price target on shares of InMode from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, May 7th.

Hedge Funds Weigh In On InMode

Several institutional investors have recently added to or reduced their stakes in the company. Doma Perpetual Capital Management LLC lifted its holdings in InMode by 26.8% during the 3rd quarter. Doma Perpetual Capital Management LLC now owns 2,838,431 shares of the healthcare company’s stock valued at $42,293,000 after purchasing an additional 599,108 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in InMode by 6.1% during the 1st quarter. Renaissance Technologies LLC now owns 2,586,218 shares of the healthcare company’s stock valued at $35,379,000 after purchasing an additional 149,800 shares during the last quarter. Steel Partners Holdings L.P. lifted its holdings in InMode by 154.8% during the 1st quarter. Steel Partners Holdings L.P. now owns 1,795,361 shares of the healthcare company’s stock valued at $24,561,000 after purchasing an additional 1,090,697 shares during the last quarter. Millennium Management LLC lifted its holdings in InMode by 111.4% during the 4th quarter. Millennium Management LLC now owns 1,778,681 shares of the healthcare company’s stock valued at $26,129,000 after purchasing an additional 937,376 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in InMode by 48.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,422,635 shares of the healthcare company’s stock valued at $20,899,000 after purchasing an additional 466,891 shares during the last quarter. 68.04% of the stock is owned by institutional investors.

InMode Stock Performance

Shares of InMode stock opened at $13.54 on Tuesday. The firm’s 50-day simple moving average is $13.93 and its 200-day simple moving average is $14.18. InMode has a twelve month low of $12.72 and a twelve month high of $16.74. The firm has a market cap of $857.89 million, a P/E ratio of 9.96 and a beta of 1.94.

InMode (NASDAQ:INMD) last issued its earnings results on Wednesday, May 6th. The healthcare company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.05). InMode had a net margin of 23.27% and a return on equity of 13.47%. The business had revenue of $82.02 million for the quarter, compared to analyst estimates of $79.84 million. During the same quarter last year, the firm posted $0.31 earnings per share. InMode’s revenue was up 5.3% on a year-over-year basis.

About InMode

InMode Ltd. (NASDAQ:INMD) is a medical technology company headquartered in Israel that develops, manufactures and markets devices for aesthetic and medical treatments. The company specializes in energy-based technologies, primarily radiofrequency platforms, designed to deliver minimally-invasive and non-invasive procedures.

InMode’s product portfolio encompasses a range of modular systems targeting body contouring, facial rejuvenation, skin tightening and other cosmetic applications. Key offerings include devices built on proprietary radiofrequency and radiofrequency-assisted lipolysis, enabling physicians to perform treatments such as tissue coagulation, skin resurfacing and subdermal volumizing with reduced downtime.

The company distributes its technologies through direct sales operations and distribution partners, serving medical professionals across multiple geographies including North America, Europe, Asia Pacific and Latin America.