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

Shares of InMode Ltd. (NASDAQ:INMD) have been assigned an average recommendation of “Hold” from the six research firms that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $32.80.

INMD has been the subject of a number of recent analyst reports. Barclays lowered their target price on shares of InMode from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research report on Friday. Finally, UBS Group raised their price target on shares of InMode from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th.

Hedge Funds Weigh In On InMode

Several institutional investors have recently made changes to their positions in INMD. LSV Asset Management increased its holdings in shares of InMode by 3,557.6% during the 3rd quarter. LSV Asset Management now owns 1,678,819 shares of the healthcare company’s stock valued at $51,137,000 after purchasing an additional 1,632,919 shares in the last quarter. Boston Trust Walden Corp purchased a new position in shares of InMode during the 4th quarter valued at approximately $32,366,000. Jennison Associates LLC purchased a new position in shares of InMode during the 4th quarter valued at approximately $15,101,000. Meitav Investment House Ltd. increased its holdings in shares of InMode by 58.2% during the 3rd quarter. Meitav Investment House Ltd. now owns 1,589,027 shares of the healthcare company’s stock valued at $49,448,000 after purchasing an additional 584,655 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of InMode by 5,512.7% during the 4th quarter. Federated Hermes Inc. now owns 582,434 shares of the healthcare company’s stock valued at $12,953,000 after purchasing an additional 572,057 shares in the last quarter. 68.04% of the stock is owned by hedge funds and other institutional investors.

InMode Price Performance

Shares of InMode stock opened at $17.64 on Friday. InMode has a 1 year low of $16.72 and a 1 year high of $48.25. The firm’s 50-day moving average is $19.92 and its two-hundred day moving average is $21.35. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 8.36 and a beta of 2.20.

InMode (NASDAQ:INMD) last released its quarterly earnings results on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $126.80 million for the quarter, compared to analysts’ expectations of $124.77 million. InMode had a net margin of 38.84% and a return on equity of 27.66%. The company’s revenue was down 5.1% compared to the same quarter last year. During the same period last year, the business earned $0.69 EPS. On average, equities analysts expect that InMode will post 2.04 earnings per share for the current 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.