Analysts Set InMode Ltd. (NASDAQ:INMD) PT at $16.00

InMode Ltd. (NASDAQ:INMD) has earned a consensus rating of “Hold” from the eight research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $16.00.

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of InMode in a report on Thursday, August 6th.

InMode Trading Down 2.0%

Shares of NASDAQ INMD opened at $14.58 on Thursday. The stock has a 50 day simple moving average of $15.09 and a 200-day simple moving average of $14.30. The company has a market cap of $838.06 million, a PE ratio of 11.85 and a beta of 1.86. InMode has a 12-month low of $12.72 and a 12-month high of $16.74.

InMode (NASDAQ:INMD) last posted its earnings results on Wednesday, August 5th. The healthcare company reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. InMode had a return on equity of 11.99% and a net margin of 20.69%.The firm had revenue of $95.59 million for the quarter, compared to analysts’ expectations of $94.89 million. During the same period last year, the firm earned $0.47 EPS. The firm’s revenue was up .0% compared to the same quarter last year.

Hedge Funds Weigh In On InMode

Large investors have recently bought and sold shares of the stock. Steadtrust LLC raised its holdings in InMode by 251.9% during the second quarter. Steadtrust LLC now owns 91,500 shares of the healthcare company’s stock worth $1,338,000 after purchasing an additional 65,500 shares in the last quarter. Wellington Management Group LLP bought a new position in InMode during the 2nd quarter valued at $1,254,000. Steel Partners Holdings L.P. boosted its stake 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 in the last quarter. Renaissance Technologies LLC increased its position in shares of 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 period. Finally, Systematic Financial Management LP increased its position in shares of InMode by 6.7% during the 1st quarter. Systematic Financial Management LP now owns 1,154,457 shares of the healthcare company’s stock valued at $15,793,000 after purchasing an additional 72,041 shares during the period. Institutional investors and hedge funds own 68.04% of the company’s stock.

InMode Company Profile

InMode Ltd. (NASDAQ: INMD) is an Israel-based medical technology company that develops, manufactures and markets energy-based platforms for minimally invasive and non-invasive aesthetic and medical treatments. Its technologies are designed for use by physicians and other healthcare professionals in areas including facial rejuvenation, skin resurfacing, body contouring, hair removal and women’s health.

The company’s product portfolio includes radiofrequency-based systems such as BodyTite and FaceTite for tissue remodeling and contouring, Morpheus8 for fractional skin treatment, and multi-application platforms such as EmpowerRF and Optimas.