InMode Ltd. (NASDAQ:INMD) Receives Average Rating of “Hold” from Analysts

InMode Ltd. (NASDAQ:INMD) has earned an average rating of “Hold” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $32.80.

A number of research analysts have weighed in on the company. Barclays decreased their price objective on InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Needham & Company LLC restated a “hold” rating on shares of InMode in a research report on Thursday.

Hedge Funds Weigh In On InMode

Several large investors have recently modified their holdings of the business. U.S. Capital Wealth Advisors LLC boosted its position in shares of InMode by 16.6% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 120,285 shares of the healthcare company’s stock worth $2,194,000 after buying an additional 17,100 shares during the period. Cetera Advisors LLC lifted its position in shares of InMode by 8.9% during the 1st quarter. Cetera Advisors LLC now owns 17,028 shares of the healthcare company’s stock worth $368,000 after purchasing an additional 1,394 shares during the last quarter. Swedbank AB purchased a new stake in InMode during the 1st quarter worth about $17,634,000. EMC Capital Management purchased a new position in InMode in the first quarter valued at approximately $90,000. Finally, Tidal Investments LLC boosted its holdings in shares of InMode by 15.5% in the 1st quarter. Tidal Investments LLC now owns 68,244 shares of the healthcare company’s stock valued at $1,475,000 after buying an additional 9,151 shares in the last quarter. Institutional investors and hedge funds own 68.04% of the company’s stock.

InMode Trading Down 4.2 %

Shares of INMD stock opened at $16.82 on Friday. The company has a market capitalization of $1.41 billion, a P/E ratio of 7.97 and a beta of 2.18. InMode has a 12-month low of $16.44 and a 12-month high of $48.25. The business’s 50 day moving average is $18.24 and its two-hundred day moving average is $20.24.

InMode (NASDAQ:INMD) last posted its quarterly earnings data on Thursday, May 2nd. The healthcare company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. InMode had a net margin of 38.84% and a return on equity of 26.15%. The company had revenue of $80.28 million during the quarter, compared to analysts’ expectations of $80.10 million. On average, research analysts predict that InMode will post 1.8 earnings per share for the current fiscal year.

About InMode

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.