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

Shares of InMode Ltd. (NASDAQ:INMD) have been given a consensus rating of “Hold” by the six analysts that are currently covering the company, 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 1-year price target among analysts that have issued a report on the stock in the last year is $22.60.

INMD has been the topic of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research report on Thursday, October 31st. Barclays cut their price objective on InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Finally, BTIG Research began coverage on InMode in a research report on Thursday, October 17th. They set a “buy” rating and a $25.00 target price for the company.

InMode Stock Up 0.3 %

InMode stock opened at $18.62 on Monday. InMode has a 12-month low of $14.87 and a 12-month high of $26.80. The company has a market capitalization of $1.56 billion, a PE ratio of 10.06 and a beta of 2.07. The firm’s fifty day moving average is $17.97 and its 200 day moving average is $17.50.

Hedge Funds Weigh In On InMode

Hedge funds and other institutional investors have recently modified their holdings of the company. National Bank of Canada FI grew its position in 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 last quarter. Carmel Capital Partners LLC grew its holdings in shares of InMode by 6.9% in the third quarter. Carmel Capital Partners LLC now owns 11,511 shares of the healthcare company’s stock worth $195,000 after purchasing an additional 741 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of InMode by 4.6% in the third quarter. Franklin Resources Inc. now owns 17,559 shares of the healthcare company’s stock worth $292,000 after buying an additional 768 shares during the period. Meritage Portfolio Management raised its holdings in InMode by 9.5% during the 3rd quarter. Meritage Portfolio Management now owns 14,765 shares of the healthcare company’s stock valued at $250,000 after buying an additional 1,284 shares during the last quarter. Finally, Cetera Advisors LLC boosted its position in InMode by 8.9% during the 1st quarter. Cetera Advisors LLC now owns 17,028 shares of the healthcare company’s stock valued at $368,000 after buying an additional 1,394 shares during the period. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

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.