InMode Ltd. (NASDAQ:INMD) Given Consensus Rating of “Hold” by Analysts

Shares of InMode Ltd. (NASDAQ:INMD) have received a consensus recommendation of “Hold” from the eight analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $16.00.

INMD has been the topic of a number of analyst reports. Robert W. Baird lowered their target price on InMode from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Barclays set a $19.00 target price on InMode and gave the company an “overweight” rating in a report on Thursday, May 7th.

InMode Price Performance

INMD opened at $13.59 on Tuesday. The stock has a market cap of $861.06 million, a P/E ratio of 9.99 and a beta of 1.94. The stock’s 50 day simple moving average is $13.94 and its 200 day simple moving average is $14.20. InMode has a 1-year low of $12.72 and a 1-year high of $16.74.

InMode (NASDAQ:INMD) last released its quarterly earnings results on Wednesday, May 6th. The healthcare company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). The firm had revenue of $82.02 million during the quarter, compared to analyst estimates of $79.84 million. InMode had a return on equity of 13.47% and a net margin of 23.27%.The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 EPS.

Institutional Investors Weigh In On InMode

A number of large investors have recently bought and sold shares of INMD. Steel Partners Holdings L.P. grew its holdings in InMode by 154.8% during the 1st quarter. Steel Partners Holdings L.P. now owns 1,795,361 shares of the healthcare company’s stock valued at $24,561,000 after buying an additional 1,090,697 shares during the last quarter. Cooper Creek Partners Management LLC acquired a new stake in InMode during the 3rd quarter valued at $14,980,000. Ancient Art L.P. acquired a new stake in InMode during the 3rd quarter valued at $14,254,000. Millennium Management LLC grew its holdings in InMode by 111.4% during the 4th quarter. Millennium Management LLC now owns 1,778,681 shares of the healthcare company’s stock valued at $26,129,000 after buying an additional 937,376 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in InMode by 234.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company’s stock valued at $19,935,000 after buying an additional 788,157 shares during the last quarter. Institutional investors and hedge funds own 68.04% of the company’s stock.

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.