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

Shares of InMode Ltd. (NASDAQ:INMD) have received an average recommendation of “Hold” from the nine research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $16.80.

INMD has been the subject of a number of recent research reports. Robert W. Baird set a $17.00 price objective on InMode in a report on Wednesday, February 11th. UBS Group cut their target price on InMode from $16.25 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Canaccord Genuity Group set a $15.00 price target on InMode and gave the company a “hold” rating in a research note on Wednesday, December 17th. Wall Street Zen downgraded InMode from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of InMode in a research note on Thursday, January 22nd.

Institutional Investors Weigh In On InMode

A number of institutional investors have recently modified their holdings of INMD. Doma Perpetual Capital Management LLC grew its stake in InMode by 26.8% in the third quarter. Doma Perpetual Capital Management LLC now owns 2,838,431 shares of the healthcare company’s stock valued at $42,293,000 after acquiring an additional 599,108 shares during the period. Millennium Management LLC lifted its holdings in shares of InMode by 111.4% in the 4th quarter. Millennium Management LLC now owns 1,778,681 shares of the healthcare company’s stock worth $26,129,000 after purchasing an additional 937,376 shares in the last quarter. Goldman Sachs Group Inc. grew its position in InMode by 48.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,422,635 shares of the healthcare company’s stock valued at $20,899,000 after purchasing an additional 466,891 shares during the period. Systematic Financial Management LP grew its position in InMode by 3.9% in the 2nd quarter. Systematic Financial Management LP now owns 1,090,971 shares of the healthcare company’s stock valued at $15,754,000 after purchasing an additional 41,363 shares during the period. Finally, Cooper Creek Partners Management LLC bought a new stake in InMode during the 3rd quarter valued at $14,980,000. 68.04% of the stock is owned by institutional investors.

InMode Price Performance

Shares of NASDAQ INMD opened at $15.22 on Friday. The company has a 50 day simple moving average of $14.69 and a 200 day simple moving average of $14.71. InMode has a 1 year low of $13.14 and a 1 year high of $19.78. The firm has a market cap of $964.34 million, a PE ratio of 10.57 and a beta of 2.19.

InMode (NASDAQ:INMD) last posted its earnings results on Tuesday, February 10th. The healthcare company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $103.85 million for the quarter, compared to analyst estimates of $104.64 million. InMode had a net margin of 25.33% and a return on equity of 14.52%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. As a group, research analysts anticipate that InMode will post 1.75 earnings per share for the current fiscal year.

About InMode

InMode Ltd. (NASDAQ:INMD) is a medical technology company headquartered in Israel that develops, manufactures and markets devices for aesthetic and medical treatments. The company specializes in energy-based technologies, primarily radiofrequency platforms, designed to deliver minimally-invasive and non-invasive procedures.

InMode’s product portfolio encompasses a range of modular systems targeting body contouring, facial rejuvenation, skin tightening and other cosmetic applications. Key offerings include devices built on proprietary radiofrequency and radiofrequency-assisted lipolysis, enabling physicians to perform treatments such as tissue coagulation, skin resurfacing and subdermal volumizing with reduced downtime.

The company distributes its technologies through direct sales operations and distribution partners, serving medical professionals across multiple geographies including North America, Europe, Asia Pacific and Latin America.