InMode’s (INMD) “Hold” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reissued their hold rating on shares of InMode (NASDAQ:INMD) in a research report sent to investors on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a $15.00 price target on the healthcare company’s stock.

Several other research analysts also recently issued reports on INMD. Needham & Company LLC restated a “hold” rating on shares of InMode in a report on Monday, April 28th. Robert W. Baird downgraded shares of InMode from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $22.00 to $16.00 in a report on Monday, April 28th. UBS Group dropped their price objective on shares of InMode from $19.00 to $16.25 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Jefferies Financial Group dropped their price objective on shares of InMode from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Finally, Baird R W downgraded shares of InMode from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $18.54.

InMode Trading Down 3.1%

INMD stock opened at $14.71 on Friday. InMode has a 1 year low of $13.14 and a 1 year high of $19.85. The company has a fifty day simple moving average of $14.40 and a 200 day simple moving average of $16.20. The firm has a market cap of $929.82 million, a PE ratio of 6.31 and a beta of 1.95.

InMode (NASDAQ:INMD) last announced its earnings results on Monday, April 28th. The healthcare company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.14). The firm had revenue of $77.87 million during the quarter, compared to the consensus estimate of $82.21 million. InMode had a return on equity of 17.17% and a net margin of 44.79%. The business’s revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 EPS. As a group, analysts forecast that InMode will post 1.75 EPS for the current fiscal year.

Hedge Funds Weigh In On InMode

Several hedge funds have recently bought and sold shares of INMD. Parallel Advisors LLC grew its holdings in InMode by 63.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,973 shares of the healthcare company’s stock worth $28,000 after acquiring an additional 763 shares during the last quarter. CWM LLC grew its holdings in InMode by 106.4% during the 1st quarter. CWM LLC now owns 2,369 shares of the healthcare company’s stock worth $42,000 after acquiring an additional 1,221 shares during the last quarter. Orion Capital Management LLC bought a new stake in InMode during the 4th quarter worth approximately $65,000. Summit Securities Group LLC bought a new stake in InMode during the 1st quarter worth approximately $70,000. Finally, Farther Finance Advisors LLC grew its holdings in InMode by 26.2% during the 4th quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company’s stock worth $93,000 after acquiring an additional 1,154 shares during the last quarter. 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.