InMode Ltd. (NASDAQ:INMD) Receives $16.00 Average Target Price from Analysts

Shares of InMode Ltd. (NASDAQ:INMD) have earned an average recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $16.00.

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

Hedge Funds Weigh In On InMode

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC raised its position in shares of 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 bought a new position in shares of InMode in the second quarter valued at approximately $677,000. IFP Advisors Inc acquired a new position in shares of InMode during the second quarter valued at approximately $31,000. California State Teachers Retirement System increased its stake in shares of InMode by 1,390.6% during the second quarter. California State Teachers Retirement System now owns 890,051 shares of the healthcare company’s stock valued at $13,013,000 after acquiring an additional 830,340 shares during the period. Finally, Plan A Wealth LLC raised its holdings in InMode by 20.3% during the second quarter. Plan A Wealth LLC now owns 17,720 shares of the healthcare company’s stock worth $259,000 after purchasing an additional 2,991 shares in the last quarter. Institutional investors own 68.04% of the company’s stock.

InMode Trading Up 0.9%

Shares of NASDAQ INMD opened at $14.90 on Thursday. The stock has a 50 day simple moving average of $15.07 and a 200-day simple moving average of $14.28. The company has a market cap of $856.45 million, a PE ratio of 12.11 and a beta of 1.86. InMode has a 12-month low of $12.72 and a 12-month high of $16.74.

InMode (NASDAQ:INMD) last issued its quarterly earnings data on Wednesday, August 5th. The healthcare company reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. InMode had a return on equity of 11.99% and a net margin of 20.69%.The business had revenue of $95.59 million during the quarter, compared to analyst estimates of $94.89 million. During the same period in the prior year, the company posted $0.47 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year.

About InMode

InMode Ltd. (NASDAQ:INMD) is a medical technology company headquartered in Israel that develops, manufactures and markets devices for aesthetic and medical treatments. The company specializes in energy-based technologies, primarily radiofrequency platforms, designed to deliver minimally-invasive and non-invasive procedures.

InMode’s product portfolio encompasses a range of modular systems targeting body contouring, facial rejuvenation, skin tightening and other cosmetic applications. Key offerings include devices built on proprietary radiofrequency and radiofrequency-assisted lipolysis, enabling physicians to perform treatments such as tissue coagulation, skin resurfacing and subdermal volumizing with reduced downtime.

The company distributes its technologies through direct sales operations and distribution partners, serving medical professionals across multiple geographies including North America, Europe, Asia Pacific and Latin America.