Brokerages Set InMode Ltd. (NASDAQ:INMD) Target Price at $22.40

Shares of InMode Ltd. (NASDAQ:INMD) have earned a consensus rating of “Hold” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $22.40.

A number of equities analysts have recently commented on INMD shares. Barclays cut their target price on shares of InMode from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, January 9th. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a report on Thursday, October 31st. Finally, BTIG Research assumed coverage on InMode in a research report on Thursday, October 17th. They set a “buy” rating and a $25.00 target price on the stock.

InMode Stock Performance

InMode stock opened at $17.27 on Tuesday. InMode has a fifty-two week low of $14.87 and a fifty-two week high of $26.80. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 9.34 and a beta of 2.12. The stock’s fifty day moving average is $17.60 and its two-hundred day moving average is $17.23.

Institutional Trading of InMode

Large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC lifted its stake in shares of InMode by 314.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,550 shares of the healthcare company’s stock worth $60,000 after buying an additional 2,694 shares during the last quarter. Quarry LP raised its holdings in InMode by 154.3% in the 3rd quarter. Quarry LP now owns 3,781 shares of the healthcare company’s stock valued at $64,000 after acquiring an additional 2,294 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of InMode by 6.2% during the 3rd quarter. National Bank of Canada FI now owns 9,985 shares of the healthcare company’s stock worth $169,000 after acquiring an additional 579 shares during the period. GW Henssler & Associates Ltd. acquired a new position in InMode during the third quarter valued at approximately $177,000. Finally, DGS Capital Management LLC bought a new position in InMode in the third quarter valued at about $182,000. 68.04% of the stock is owned by institutional investors.

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.