Analysts Set InMode Ltd. (NASDAQ:INMD) Target Price at $22.60

InMode Ltd. (NASDAQ:INMD) has been given a consensus recommendation of “Hold” by the six research firms that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $22.60.

Several analysts recently issued reports on the company. Canaccord Genuity Group cut their price target on InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 12th. BTIG Research assumed coverage on InMode in a research note on Thursday, October 17th. They issued a “buy” rating and a $25.00 target price on the stock. Jefferies Financial Group downgraded shares of InMode from a “buy” rating to a “hold” rating and reduced their price target for the company from $21.00 to $19.00 in a report on Tuesday, July 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a report on Thursday, October 10th. Finally, Barclays cut their price objective on shares of InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th.

Institutional Investors Weigh In On InMode

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Inspire Advisors LLC increased its stake in InMode by 45.5% during the 3rd quarter. Inspire Advisors LLC now owns 31,192 shares of the healthcare company’s stock valued at $529,000 after buying an additional 9,759 shares during the period. Unison Advisors LLC acquired a new position in shares of InMode during the third quarter valued at approximately $675,000. Handelsbanken Fonder AB raised its holdings in InMode by 6.7% during the third quarter. Handelsbanken Fonder AB now owns 128,097 shares of the healthcare company’s stock worth $2,171,000 after purchasing an additional 8,028 shares in the last quarter. SG Americas Securities LLC lifted its position in InMode by 221.7% in the third quarter. SG Americas Securities LLC now owns 73,611 shares of the healthcare company’s stock worth $1,248,000 after purchasing an additional 50,731 shares during the period. Finally, Systematic Financial Management LP boosted its stake in InMode by 34.5% during the 2nd quarter. Systematic Financial Management LP now owns 866,619 shares of the healthcare company’s stock valued at $15,807,000 after purchasing an additional 222,532 shares in the last quarter. 68.04% of the stock is currently owned by institutional investors.

InMode Stock Performance

Shares of NASDAQ:INMD opened at $18.35 on Friday. The company’s fifty day moving average is $16.38 and its two-hundred day moving average is $17.38. InMode has a 1-year low of $14.87 and a 1-year high of $26.80. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 8.70 and a beta of 2.17.

InMode (NASDAQ:INMD) last released its quarterly earnings data on Thursday, August 1st. The healthcare company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.04). InMode had a return on equity of 21.00% and a net margin of 35.81%. The business had revenue of $102.60 million for the quarter, compared to analyst estimates of $104.81 million. During the same quarter last year, the company earned $0.65 EPS. InMode’s revenue was down 24.6% compared to the same quarter last year. Sell-side analysts expect that InMode will post 1.63 EPS for the current fiscal year.

InMode Company Profile

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.