InMode Ltd. (NASDAQ:INMD) Receives $18.54 Average Price Target from Analysts

Shares of InMode Ltd. (NASDAQ:INMD) have been assigned a consensus rating of “Hold” from the eight analysts that are presently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $18.54.

INMD has been the topic of several recent analyst reports. Canaccord Genuity Group dropped their target price on shares of InMode from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, April 29th. BTIG Research lowered InMode from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 29th. UBS Group cut their price objective on InMode from $19.00 to $16.25 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a report on Monday, April 28th. Finally, Jefferies Financial Group dropped their price target on InMode from $16.00 to $15.00 and set a “hold” rating on the stock in a research report on Monday, April 14th.

InMode Price Performance

Shares of NASDAQ:INMD opened at $13.28 on Tuesday. The stock has a market capitalization of $839.43 million, a P/E ratio of 5.70 and a beta of 1.98. The business has a 50-day moving average of $14.51 and a two-hundred day moving average of $16.54. InMode has a fifty-two week low of $13.16 and a fifty-two week high of $19.85.

InMode (NASDAQ:INMD) last posted its earnings results on Monday, April 28th. The healthcare company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.14). The company had revenue of $77.87 million during the quarter, compared to analyst estimates of $82.21 million. InMode had a return on equity of 17.17% and a net margin of 44.79%. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 earnings per share. As a group, research analysts expect that InMode will post 1.75 EPS for the current fiscal year.

Hedge Funds Weigh In On InMode

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in InMode by 14.6% in the 4th quarter. Principal Financial Group Inc. now owns 99,562 shares of the healthcare company’s stock valued at $1,663,000 after buying an additional 12,661 shares during the period. D.A. Davidson & CO. boosted its position in shares of InMode by 5.7% during the 4th quarter. D.A. Davidson & CO. now owns 43,651 shares of the healthcare company’s stock valued at $729,000 after acquiring an additional 2,373 shares in the last quarter. Atlas Legacy Advisors LLC bought a new stake in InMode in the fourth quarter valued at about $848,000. Yelin Lapidot Holdings Management Ltd. raised its position in InMode by 0.6% in the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 308,852 shares of the healthcare company’s stock worth $5,158,000 after purchasing an additional 1,950 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in InMode during the fourth quarter worth about $87,000. 68.04% of the stock is currently owned by 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.