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

Shares of InMode Ltd. (NASDAQ:INMD) have received a consensus recommendation of “Hold” from the eight analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $16.00.

A number of brokerages have issued reports on INMD. Barclays set a $19.00 target price on InMode and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Robert W. Baird dropped their price target on shares of InMode from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of INMD. Royal Bank of Canada raised its stake in InMode by 5.7% during the 1st quarter. Royal Bank of Canada now owns 242,398 shares of the healthcare company’s stock valued at $4,299,000 after purchasing an additional 13,032 shares during the last quarter. AQR Capital Management LLC acquired a new stake in InMode in the 1st quarter worth $317,000. Goldman Sachs Group Inc. grew its position in InMode by 234.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company’s stock worth $19,935,000 after purchasing an additional 788,157 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of InMode by 132.9% during the 2nd quarter. American Century Companies Inc. now owns 44,240 shares of the healthcare company’s stock worth $639,000 after purchasing an additional 25,246 shares during the period. Finally, Marshall Wace LLP raised its position in shares of InMode by 270.7% during the second quarter. Marshall Wace LLP now owns 555,573 shares of the healthcare company’s stock valued at $8,022,000 after buying an additional 405,707 shares during the last quarter. Institutional investors and hedge funds own 68.04% of the company’s stock.

InMode Price Performance

Shares of NASDAQ:INMD opened at $15.36 on Wednesday. The stock has a market capitalization of $882.89 million, a P/E ratio of 11.29 and a beta of 1.91. The business has a 50-day moving average of $14.18 and a two-hundred day moving average of $14.19. InMode has a fifty-two week low of $12.72 and a fifty-two week high of $16.74.

InMode (NASDAQ:INMD) last issued its quarterly earnings data on Wednesday, May 6th. The healthcare company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). InMode had a net margin of 23.27% and a return on equity of 13.47%. The company 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 company posted $0.31 EPS. The business’s revenue was up 5.3% on a year-over-year basis.

InMode Company Profile

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.