InMode (NASDAQ:INMD) Shares Gap Up to $49.75
InMode Ltd. (NASDAQ:INMD) gapped up prior to trading on Friday . The stock had previously closed at $51.50, but opened at $49.75. InMode shares last traded at $47.62, with a volume of 60,970 shares traded.
Several research firms recently commented on INMD. Barclays lifted their price objective on InMode from $27.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Zacks Investment Research downgraded InMode from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 8th. Finally, Robert W. Baird restated an “outperform” rating and set a $45.00 price target (up from $27.00) on shares of InMode in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $38.60.
The company’s 50 day moving average price is $41.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.83 and a quick ratio of 7.47.
Institutional investors have recently added to or reduced their stakes in the business. Maple Rock Capital Partners Inc. purchased a new position in shares of InMode during the 3rd quarter valued at about $10,755,000. Penserra Capital Management LLC bought a new position in shares of InMode during the 3rd quarter valued at approximately $8,690,000. Millennium Management LLC bought a new position in shares of InMode during the 3rd quarter valued at approximately $1,535,000. Rice Hall James & Associates LLC bought a new position in shares of InMode during the 3rd quarter valued at approximately $1,244,000. Finally, Dean Capital Investments Management LLC bought a new position in shares of InMode during the 3rd quarter valued at approximately $951,000. Institutional investors and hedge funds own 11.14% of the company’s stock.
About InMode (NASDAQ:INMD)
InMode Ltd. designs, develops, manufactures, and markets minimally-invasive aesthetic medical products based on its proprietary radio frequency assisted lipolysis and deep subdermal fractional radio frequency technologies. The company offers minimally-invasive aesthetic medical products for procedures, such as liposuction with simultaneous skin tightening, body and face contouring, and ablative skin rejuvenation treatments.
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