InMode Ltd. (NASDAQ:INMD) Receives Consensus Recommendation of “Hold” from Brokerages

InMode Ltd. (NASDAQ:INMD) has earned an average rating of “Hold” from the nine research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $16.60.

INMD has been the subject of a number of research reports. Wall Street Zen lowered shares of InMode from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “sell (d+)” rating on shares of InMode in a report on Thursday, January 22nd. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research note on Friday, October 10th. UBS Group cut their price objective on shares of InMode from $16.25 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Finally, Canaccord Genuity Group set a $15.00 price objective on shares of InMode and gave the stock a “hold” rating in a research note on Wednesday, December 17th.

InMode Trading Down 1.2%

Shares of INMD stock opened at $15.25 on Wednesday. InMode has a twelve month low of $13.14 and a twelve month high of $19.78. The stock has a fifty day simple moving average of $14.40 and a two-hundred day simple moving average of $14.62. The stock has a market capitalization of $963.95 million, a price-to-earnings ratio of 7.06 and a beta of 2.13.

Institutional Investors Weigh In On InMode

Hedge funds have recently made changes to their positions in the stock. ARGA Investment Management LP grew its stake in InMode by 355.0% in the third quarter. ARGA Investment Management LP now owns 143,658 shares of the healthcare company’s stock valued at $2,141,000 after purchasing an additional 112,087 shares during the last quarter. Divisadero Street Capital Management LP bought a new stake in shares of InMode in the 2nd quarter valued at about $1,397,000. OMERS ADMINISTRATION Corp grew its position in shares of InMode by 55.3% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 200,043 shares of the healthcare company’s stock worth $2,889,000 after buying an additional 71,231 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of InMode by 92.9% during the 2nd quarter. Squarepoint Ops LLC now owns 143,758 shares of the healthcare company’s stock worth $2,076,000 after acquiring an additional 69,239 shares in the last quarter. Finally, Lind Value II ApS bought a new position in shares of InMode during the 2nd quarter worth approximately $3,930,000. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

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.