InMode Ltd. (NASDAQ:INMD) Receives $18.54 Consensus PT from Brokerages

InMode Ltd. (NASDAQ:INMD) has received an average rating of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $18.54.

INMD has been the topic of a number of analyst reports. UBS Group dropped their target price on InMode from $19.00 to $16.25 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Needham & Company LLC restated a “hold” rating on shares of InMode in a research note on Monday, April 28th. Robert W. Baird lowered InMode from an “outperform” rating to a “neutral” rating and cut their target price for the company from $22.00 to $16.00 in a research report on Monday, April 28th. Baird R W cut InMode from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 28th. Finally, Barclays decreased their price target on shares of InMode from $29.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. CWM LLC raised its position in shares of InMode by 106.4% during the 1st quarter. CWM LLC now owns 2,369 shares of the healthcare company’s stock valued at $42,000 after acquiring an additional 1,221 shares in the last quarter. Orion Capital Management LLC bought a new stake in InMode during the fourth quarter valued at $65,000. Summit Securities Group LLC acquired a new stake in shares of InMode during the first quarter worth $70,000. SBI Securities Co. Ltd. bought a new position in shares of InMode in the 4th quarter worth about $87,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of InMode by 26.2% in the 4th quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company’s stock valued at $93,000 after buying an additional 1,154 shares during the period. Institutional investors and hedge funds own 68.04% of the company’s stock.

InMode Stock Down 0.2%

Shares of NASDAQ:INMD opened at $13.34 on Tuesday. The company has a market capitalization of $843.22 million, a price-to-earnings ratio of 5.73 and a beta of 1.98. The company has a 50 day moving average of $14.54 and a two-hundred day moving average of $16.60. InMode has a 52-week low of $13.16 and a 52-week high of $19.85.

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

About InMode

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.