Needham & Company LLC Reaffirms Hold Rating for InMode (NASDAQ:INMD)

Needham & Company LLC restated their hold rating on shares of InMode (NASDAQ:INMD) in a research note published on Friday, Benzinga reports.

Other analysts have also issued research reports about the company. UBS Group increased their target price on InMode from $24.00 to $26.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. Barclays decreased their price target on shares of InMode from $34.00 to $33.00 and set an overweight rating for the company in a research report on Friday, April 12th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $32.80.

InMode Stock Performance

Shares of INMD stock traded up $1.01 during mid-day trading on Friday, hitting $18.65. The company’s stock had a trading volume of 1,553,562 shares, compared to its average volume of 1,567,811. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 8.42 and a beta of 2.20. The business has a 50-day moving average price of $19.92 and a 200 day moving average price of $21.35. InMode has a 52-week low of $16.72 and a 52-week high of $48.25.

InMode (NASDAQ:INMD) last released its quarterly earnings results on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. InMode had a net margin of 38.84% and a return on equity of 26.15%. The business had revenue of $126.80 million for the quarter, compared to the consensus estimate of $124.77 million. During the same period last year, the firm earned $0.69 earnings per share. The company’s quarterly revenue was down 5.1% on a year-over-year basis. Equities research analysts predict that InMode will post 2.04 EPS for the current fiscal year.

Institutional Trading of InMode

A number of large investors have recently made changes to their positions in the company. Duality Advisers LP acquired a new position in shares of InMode during the fourth quarter worth $1,773,000. Ibex Investors LLC acquired a new stake in shares of InMode during the 3rd quarter worth about $1,954,000. UBS Group AG lifted its stake in InMode by 3.9% during the third quarter. UBS Group AG now owns 753,026 shares of the healthcare company’s stock worth $22,937,000 after purchasing an additional 28,446 shares during the last quarter. Meitav Investment House Ltd. boosted its holdings in InMode by 58.2% in the third quarter. Meitav Investment House Ltd. now owns 1,589,027 shares of the healthcare company’s stock valued at $49,448,000 after purchasing an additional 584,655 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in InMode by 45.0% in the third quarter. Envestnet Asset Management Inc. now owns 164,928 shares of the healthcare company’s stock valued at $5,024,000 after purchasing an additional 51,181 shares in the last quarter. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

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.