InMode Ltd. (NASDAQ:INMD) Receives $18.04 Consensus Target Price from Brokerages

InMode Ltd. (NASDAQ:INMD) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $18.0417.

A number of research firms recently issued reports on INMD. Canaccord Genuity Group reissued a “hold” rating and set a $15.00 target price on shares of InMode in a research report on Friday, July 11th. Barclays dropped their price objective on shares of InMode from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Finally, Needham & Company LLC restated a “hold” rating on shares of InMode in a report on Wednesday, July 30th.

Institutional Investors Weigh In On InMode

Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of InMode during the 1st quarter valued at about $192,000. Handelsbanken Fonder AB grew its position in InMode by 34.3% in the first quarter. Handelsbanken Fonder AB now owns 36,400 shares of the healthcare company’s stock valued at $646,000 after acquiring an additional 9,300 shares in the last quarter. Bessemer Group Inc. purchased a new stake in shares of InMode during the first quarter valued at approximately $617,000. Focus Partners Wealth raised its stake in shares of InMode by 31.8% during the first quarter. Focus Partners Wealth now owns 227,959 shares of the healthcare company’s stock valued at $4,044,000 after purchasing an additional 54,948 shares during the period. Finally, Acadian Asset Management LLC lifted its position in shares of InMode by 6.6% during the first quarter. Acadian Asset Management LLC now owns 556,413 shares of the healthcare company’s stock worth $9,858,000 after purchasing an additional 34,623 shares in the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Stock Up 0.7%

Shares of INMD opened at $15.00 on Thursday. InMode has a fifty-two week low of $13.14 and a fifty-two week high of $19.85. The company’s fifty day moving average is $14.60 and its two-hundred day moving average is $14.93. The firm has a market cap of $948.14 million, a PE ratio of 6.07 and a beta of 2.00.

InMode (NASDAQ:INMD) last posted its quarterly earnings results 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 firm had revenue of $95.60 million for the quarter, compared to analysts’ expectations of $98.45 million. InMode had a net margin of 44.50% and a return on equity of 18.38%. InMode’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm posted $0.34 EPS. As a group, equities research analysts anticipate that InMode will post 1.75 earnings per share for the current year.

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.