InMode Ltd. (NASDAQ:INMD) Receives Consensus Rating of “Hold” from Brokerages

InMode Ltd. (NASDAQ:INMD) has received an average rating of “Hold” from the six brokerages that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $22.40.

A number of analysts have commented on INMD shares. Jefferies Financial Group cut InMode from a “buy” rating to a “hold” rating and lowered their price target for the stock from $21.00 to $19.00 in a research report on Tuesday, July 23rd. Barclays dropped their target price on InMode from $33.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Canaccord Genuity Group reduced their price target on shares of InMode from $21.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a report on Thursday, July 11th.

Hedge Funds Weigh In On InMode

Several institutional investors have recently made changes to their positions in the company. Principal Securities Inc. acquired a new stake in InMode during the fourth quarter valued at $32,000. Asset Dedication LLC acquired a new stake in shares of InMode during the 2nd quarter valued at about $33,000. Headlands Technologies LLC increased its stake in shares of InMode by 118.2% in the 1st quarter. Headlands Technologies LLC now owns 1,916 shares of the healthcare company’s stock valued at $41,000 after purchasing an additional 1,038 shares in the last quarter. Trust Co. of Vermont raised its holdings in InMode by 32.8% in the 4th quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock worth $48,000 after purchasing an additional 536 shares during the period. Finally, Newbridge Financial Services Group Inc. boosted its position in InMode by 69.2% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,200 shares of the healthcare company’s stock worth $49,000 after purchasing an additional 900 shares in the last quarter. 68.04% of the stock is owned by hedge funds and other institutional investors.

InMode Stock Up 0.2 %

INMD opened at $15.68 on Friday. The company has a market cap of $1.32 billion, a P/E ratio of 7.43 and a beta of 2.18. The firm’s 50-day moving average price is $16.87 and its 200-day moving average price is $18.48. InMode has a 52-week low of $15.39 and a 52-week high of $39.25.

InMode (NASDAQ:INMD) last issued its quarterly earnings results on Thursday, August 1st. The healthcare company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). InMode had a net margin of 35.81% and a return on equity of 21.00%. The company had revenue of $102.60 million for the quarter, compared to analyst estimates of $104.81 million. During the same quarter in the previous year, the company posted $0.65 EPS. The company’s revenue for the quarter was down 24.6% compared to the same quarter last year. On average, research analysts anticipate that InMode will post 1.63 EPS for the current fiscal year.

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.