InMode Ltd. (NASDAQ:INMD) Stock Has Consensus Target Price of $16.00 According to Brokerages

Shares of InMode Ltd. (NASDAQ:INMD – Get Free Report) have received an average rating of “Hold” from the six analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $16.00.

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

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Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Plan A Wealth LLC boosted its stake in InMode by 8.4% in the 3rd quarter. Plan A Wealth LLC now owns 19,201 shares of the healthcare company’s stock valued at $272,000 after buying an additional 1,481 shares in the last quarter. Tidal Investments LLC lifted its holdings in InMode by 51.7% during the 2nd quarter. Tidal Investments LLC now owns 88,423 shares of the healthcare company’s stock worth $1,293,000 after buying an additional 30,145 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of InMode during the second quarter valued at $677,000. IFP Advisors Inc bought a new position in shares of InMode in the 2nd quarter valued at about $31,000. Finally, NINE MASTS CAPITAL Ltd acquired a new stake in InMode during the 2nd quarter worth $439,000. Institutional investors own 68.04% of the company’s stock.

InMode Stock Performance

Shares of INMD stock opened at $14.21 on Monday. InMode has a twelve month low of $12.72 and a twelve month high of $16.67. The stock’s 50 day simple moving average is $14.74 and its 200 day simple moving average is $14.38. The company has a market capitalization of $816.81 million, a price-to-earnings ratio of 11.55 and a beta of 2.03.

InMode (NASDAQ:INMD – Get Free Report) last announced its earnings results on Wednesday, August 5th. The healthcare company reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $95.59 million for the quarter, compared to the consensus estimate of $94.89 million. InMode had a net margin of 20.69% and a return on equity of 11.99%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 EPS.

About InMode

(Get Free Report)

InMode Ltd. is an Israel-based medical technology company that develops, manufactures and markets energy-based platforms for aesthetic and medical treatments. Its technologies are designed to support minimally invasive and noninvasive procedures in areas such as skin rejuvenation, facial and body contouring, hair removal, intimate health and other soft-tissue applications.

The company’s product portfolio includes radiofrequency and other energy-based systems sold under brands such as Morpheus8, BodyTite, FaceTite, Forma and Lumecca.

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