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

Shares of InMode Ltd. (NASDAQ:INMD) have received a consensus rating of “Hold” from the ten analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $16.80.

A number of research analysts have weighed in on INMD shares. Wall Street Zen cut shares of InMode from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research note on Friday, October 10th. Weiss Ratings restated a “sell (d+)” rating on shares of InMode in a report on Wednesday, October 8th. Zacks Research upgraded InMode from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Finally, UBS Group cut their price objective on InMode from $16.25 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th.

InMode Trading Up 1.7%

Shares of InMode stock opened at $14.15 on Friday. The business’s fifty day moving average price is $15.00 and its 200 day moving average price is $14.62. InMode has a twelve month low of $13.14 and a twelve month high of $19.83. The stock has a market capitalization of $894.42 million, a P/E ratio of 6.55 and a beta of 2.11.

InMode (NASDAQ:INMD) last announced its quarterly earnings results on Wednesday, November 5th. The healthcare company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.32 by $0.06. The company had revenue of $93.17 million during the quarter, compared to analyst estimates of $88.05 million. InMode had a return on equity of 14.50% and a net margin of 41.04%.The firm’s revenue was down 28.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 earnings per share. As a group, sell-side analysts predict that InMode will post 1.75 EPS for the current year.

Hedge Funds Weigh In On InMode

A number of institutional investors and hedge funds have recently bought and sold shares of INMD. Parallel Advisors LLC raised its stake in shares of InMode by 63.1% during the second quarter. Parallel Advisors LLC now owns 1,973 shares of the healthcare company’s stock valued at $28,000 after purchasing an additional 763 shares during the period. CWM LLC grew its holdings in InMode by 106.4% during the 1st quarter. CWM LLC now owns 2,369 shares of the healthcare company’s stock valued at $42,000 after purchasing an additional 1,221 shares in the last quarter. Advisory Services Network LLC purchased a new stake in InMode during the 3rd quarter worth $37,000. Blue Trust Inc. lifted its holdings in InMode by 93.7% in the 3rd quarter. Blue Trust Inc. now owns 2,861 shares of the healthcare company’s stock worth $43,000 after buying an additional 1,384 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in InMode in the 3rd quarter worth $52,000. Hedge funds and other institutional investors 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.