InMode Ltd. (NASDAQ:INMD) Given Average Recommendation of “Hold” by Analysts

Shares of InMode Ltd. (NASDAQ:INMD) have earned a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $22.40.

INMD has been the topic of several research reports. Canaccord Genuity Group dropped their target price on InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Barclays decreased their price target on InMode from $33.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research note on Thursday, July 11th. Finally, Jefferies Financial Group downgraded InMode from a “buy” rating to a “hold” rating and decreased their target price for the company from $21.00 to $19.00 in a research note on Tuesday, July 23rd.

Institutional Trading of InMode

Several hedge funds have recently added to or reduced their stakes in INMD. Principal Securities Inc. bought a new stake in shares of InMode in the 4th quarter worth approximately $32,000. Asset Dedication LLC bought a new stake in shares of InMode in the 2nd quarter worth approximately $33,000. Headlands Technologies LLC lifted its position in shares of InMode by 118.2% in the 1st quarter. Headlands Technologies LLC now owns 1,916 shares of the healthcare company’s stock worth $41,000 after acquiring an additional 1,038 shares during the period. nVerses Capital LLC bought a new stake in shares of InMode in the 2nd quarter worth approximately $42,000. Finally, Trust Co. of Vermont lifted its position in shares of InMode by 32.8% in the 4th quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock worth $48,000 after acquiring an additional 536 shares during the period. Institutional investors own 68.04% of the company’s stock.

InMode Trading Down 2.6 %

NASDAQ:INMD opened at $15.70 on Tuesday. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 7.44 and a beta of 2.18. InMode has a 1-year low of $15.68 and a 1-year high of $41.15. The business’s fifty day moving average price is $17.72 and its 200 day moving average price is $19.50.

InMode (NASDAQ:INMD) last posted its quarterly earnings results on Thursday, August 1st. The healthcare company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.04). The business had revenue of $102.60 million for the quarter, compared to analyst estimates of $104.81 million. InMode had a net margin of 35.81% and a return on equity of 20.83%. The firm’s quarterly revenue was down 24.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. Equities analysts forecast that InMode will post 1.35 earnings per share for the current year.

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.