Brokerages Set InMode Ltd. (NASDAQ:INMD) Target Price at $16.00

InMode Ltd. (NASDAQ:INMD) has been given an average recommendation of “Hold” by the eight ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $16.00.

A number of research analysts have recently commented on the company. Barclays set a $19.00 target price on InMode and gave the company an “overweight” rating in a research note on Thursday, May 7th. Robert W. Baird decreased their price target on InMode from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th.

InMode Trading Up 0.5%

INMD stock opened at $15.17 on Wednesday. InMode has a 12 month low of $12.72 and a 12 month high of $16.74. The company has a 50-day moving average price of $14.25 and a 200 day moving average price of $14.21. The stock has a market cap of $871.97 million, a PE ratio of 11.15 and a beta of 1.91.

InMode (NASDAQ:INMD) last posted its quarterly earnings data on Wednesday, May 6th. The healthcare company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). The firm had revenue of $82.02 million during the quarter, compared to analysts’ expectations of $79.84 million. InMode had a return on equity of 13.47% and a net margin of 23.27%.The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $0.31 earnings per share.

Institutional Trading of InMode

Institutional investors and hedge funds have recently made changes to their positions in the business. Leonteq Securities AG purchased a new stake in shares of InMode during the fourth quarter valued at $26,000. Quadrant Capital Group LLC grew its stake in InMode by 127.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,945 shares of the healthcare company’s stock worth $29,000 after acquiring an additional 1,091 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of InMode during the third quarter worth approximately $37,000. Basepoint Wealth LLC bought a new stake in shares of InMode during the fourth quarter valued at approximately $39,000. Finally, Deutsche Bank AG boosted its holdings in shares of InMode by 35.9% in the fourth quarter. Deutsche Bank AG now owns 3,927 shares of the healthcare company’s stock valued at $58,000 after purchasing an additional 1,037 shares during the period. 68.04% of the stock is currently owned by institutional investors.

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.