InMode Ltd. (NASDAQ:INMD) Receives $22.60 Average Price Target from Analysts

InMode Ltd. (NASDAQ:INMD) has been given a consensus rating of “Hold” by the six research firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $22.60.

A number of brokerages have commented on INMD. Needham & Company LLC reissued a “hold” rating on shares of InMode in a report on Thursday, October 31st. BTIG Research assumed coverage on InMode in a research note on Thursday, October 17th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Barclays lowered their target price on shares of InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th.

InMode Stock Up 3.0 %

INMD stock opened at $18.24 on Thursday. InMode has a 52 week low of $14.87 and a 52 week high of $26.80. The firm has a 50-day simple moving average of $17.30 and a 200-day simple moving average of $17.46. The stock has a market capitalization of $1.53 billion, a P/E ratio of 9.86 and a beta of 2.15.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Doma Perpetual Capital Management LLC raised its stake in InMode by 210.7% during the second quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company’s stock worth $36,685,000 after purchasing an additional 1,363,841 shares during the period. Swedbank AB acquired a new stake in shares of InMode during the 1st quarter worth approximately $17,634,000. Federated Hermes Inc. raised its position in shares of InMode by 191.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock valued at $20,520,000 after buying an additional 739,629 shares during the period. Acadian Asset Management LLC lifted its holdings in InMode by 63.6% in the second quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company’s stock valued at $20,502,000 after acquiring an additional 437,122 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd purchased a new position in InMode in the second quarter worth approximately $4,104,000. Institutional investors and hedge funds own 68.04% of the company’s stock.

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.