InMode Ltd. (NASDAQ:INMD) Given Average Rating of “Hold” by Analysts

Shares of InMode Ltd. (NASDAQ:INMD) have earned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $16.00.

Several equities research analysts recently weighed in on the company. Robert W. Baird reduced their price target on InMode from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Barclays set a $19.00 price objective on shares of InMode and gave the stock an “overweight” rating in a research note on Thursday, May 7th.

Hedge Funds Weigh In On InMode

Several institutional investors and hedge funds have recently modified their holdings of INMD. Royal Bank of Canada raised its position in InMode by 5.7% in the 1st quarter. Royal Bank of Canada now owns 242,398 shares of the healthcare company’s stock worth $4,299,000 after buying an additional 13,032 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of InMode during the 1st quarter valued at about $317,000. Goldman Sachs Group Inc. boosted its position in shares of InMode by 234.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company’s stock worth $19,935,000 after purchasing an additional 788,157 shares during the period. American Century Companies Inc. boosted its stake in shares of InMode by 132.9% in the second quarter. American Century Companies Inc. now owns 44,240 shares of the healthcare company’s stock worth $639,000 after acquiring an additional 25,246 shares during the period. Finally, Marshall Wace LLP boosted its position in shares of InMode by 270.7% during the second quarter. Marshall Wace LLP now owns 555,573 shares of the healthcare company’s stock worth $8,022,000 after acquiring an additional 405,707 shares during the last quarter. 68.04% of the stock is currently owned by institutional investors.

InMode Stock Performance

Shares of INMD stock opened at $14.68 on Friday. The firm has a market cap of $843.81 million, a P/E ratio of 10.79 and a beta of 1.91. The business’s 50 day moving average price is $13.93 and its 200-day moving average price is $14.14. InMode has a fifty-two week low of $12.72 and a fifty-two week high of $16.74.

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

InMode Company Profile

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.