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

Shares of InMode Ltd. (NASDAQ:INMD) have received a consensus recommendation of “Hold” from the nine analysts that are covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $18.0417.

A number of brokerages have issued reports on INMD. Needham & Company LLC reissued a “hold” rating on shares of InMode in a report on Wednesday, July 30th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $15.00 price target on shares of InMode in a report on Friday, July 11th. Zacks Research raised InMode from a “strong sell” rating to a “hold” rating in a report on Monday. Finally, Barclays cut their price target on InMode from $24.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th.

InMode Stock Performance

Shares of NASDAQ INMD opened at $15.28 on Thursday. The stock has a market cap of $965.85 million, a PE ratio of 6.19 and a beta of 2.09. The business has a fifty day moving average of $14.61 and a two-hundred day moving average of $14.93. InMode has a 52-week low of $13.14 and a 52-week high of $19.85.

InMode (NASDAQ:INMD) last issued its quarterly earnings data on Wednesday, July 30th. The healthcare company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $95.60 million for the quarter, compared to the consensus estimate of $98.45 million. InMode had a net margin of 44.50% and a return on equity of 18.38%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 earnings per share. Analysts predict that InMode will post 1.75 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC raised its holdings in shares of InMode by 63.1% in the second quarter. Parallel Advisors LLC now owns 1,973 shares of the healthcare company’s stock valued at $28,000 after buying an additional 763 shares during the last quarter. CWM LLC increased its position in InMode by 106.4% in the first quarter. CWM LLC now owns 2,369 shares of the healthcare company’s stock worth $42,000 after purchasing an additional 1,221 shares during the period. GAMMA Investing LLC increased its position in InMode by 13,923.8% in the first quarter. GAMMA Investing LLC now owns 2,945 shares of the healthcare company’s stock worth $520,000 after purchasing an additional 2,924 shares during the period. Summit Securities Group LLC acquired a new stake in InMode in the first quarter worth about $70,000. Finally, Farther Finance Advisors LLC increased its position in InMode by 302.3% in the second quarter. Farther Finance Advisors LLC now owns 8,110 shares of the healthcare company’s stock worth $117,000 after purchasing an additional 6,094 shares during the period. 68.04% of the stock is owned by institutional investors.

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.