InMode (NASDAQ:INMD) Now Covered by BTIG Research

Stock analysts at BTIG Research began coverage on shares of InMode (NASDAQ:INMD) in a research report issued on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $25.00 price target on the healthcare company’s stock. BTIG Research’s price target points to a potential upside of 40.61% from the stock’s current price.

A number of other brokerages have also recently weighed in on INMD. Barclays decreased their price target on shares of InMode from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Canaccord Genuity Group decreased 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. Jefferies Financial Group cut shares of InMode from a “buy” rating to a “hold” rating and decreased their price target for the stock from $21.00 to $19.00 in a research report on Tuesday, July 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $22.60.

InMode Stock Up 3.3 %

Shares of NASDAQ INMD opened at $17.78 on Thursday. InMode has a 52-week low of $14.87 and a 52-week high of $26.80. The firm has a fifty day moving average of $16.28 and a 200-day moving average of $17.44. The stock has a market capitalization of $1.49 billion, a PE ratio of 8.43 and a beta of 2.17.

InMode (NASDAQ:INMD) last announced its quarterly earnings data on Thursday, August 1st. The healthcare company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $104.81 million. During the same period in the prior year, the firm earned $0.65 earnings per share. The firm’s quarterly revenue was down 24.6% on a year-over-year basis. Equities research analysts expect that InMode will post 1.63 EPS for the current fiscal year.

Hedge Funds Weigh In On InMode

A number of institutional investors have recently added to or reduced their stakes in INMD. Renaissance Technologies LLC raised its stake in shares of InMode by 11.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,068,396 shares of the healthcare company’s stock valued at $37,728,000 after purchasing an additional 214,200 shares in the last quarter. Doma Perpetual Capital Management LLC raised its stake in shares of InMode by 210.7% in the 2nd quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company’s stock valued at $36,685,000 after purchasing an additional 1,363,841 shares in the last quarter. DDD Partners LLC raised its stake in shares of InMode by 19.4% in the 2nd quarter. DDD Partners LLC now owns 1,266,678 shares of the healthcare company’s stock valued at $23,104,000 after purchasing an additional 205,947 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of InMode by 191.9% in the 2nd quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock valued at $20,520,000 after purchasing an additional 739,629 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of InMode by 63.6% in the 2nd quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company’s stock valued at $20,502,000 after purchasing an additional 437,122 shares in the last quarter. Institutional investors and hedge funds own 68.04% of the company’s stock.

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.