InMode Ltd. (NASDAQ:INMD) Given Consensus Recommendation of “Hold” by Brokerages

Shares of InMode Ltd. (NASDAQ:INMD) have been given a consensus recommendation of “Hold” by the eight analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $16.00.

A number of research analysts have recently commented on the company. Robert W. Baird cut their price target on InMode from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Barclays set a $19.00 price objective on shares of InMode and gave the stock an “overweight” rating in a research note on Thursday, May 7th.

InMode Stock Performance

Shares of NASDAQ:INMD opened at $14.63 on Friday. The stock’s 50-day moving average is $13.92 and its 200-day moving average is $14.14. The company has a market cap of $840.70 million, a P/E ratio of 10.75 and a beta of 1.94. InMode has a 52-week low of $12.72 and a 52-week high of $16.74.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Steel Partners Holdings L.P. increased its stake in InMode by 154.8% during the first quarter. Steel Partners Holdings L.P. now owns 1,795,361 shares of the healthcare company’s stock valued at $24,561,000 after acquiring an additional 1,090,697 shares during the period. Cooper Creek Partners Management LLC bought a new stake in shares of InMode in the 3rd quarter worth approximately $14,980,000. Ancient Art L.P. acquired a new stake in shares of InMode during the 3rd quarter worth approximately $14,254,000. Millennium Management LLC increased its position in shares of InMode by 111.4% during the fourth quarter. Millennium Management LLC now owns 1,778,681 shares of the healthcare company’s stock valued at $26,129,000 after purchasing an additional 937,376 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of InMode by 234.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company’s stock valued at $19,935,000 after purchasing an additional 788,157 shares during the period. 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.