InMode Ltd. (NASDAQ:INMD) Receives $16.80 Average Target Price from Analysts

Shares of InMode Ltd. (NASDAQ:INMD) have earned an average recommendation of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $16.80.

INMD has been the subject of several analyst reports. UBS Group reduced their price objective on InMode from $16.25 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of InMode in a research report on Thursday, January 22nd. Robert W. Baird set a $17.00 price target on InMode in a research note on Wednesday, February 11th. Wall Street Zen lowered InMode from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Canaccord Genuity Group set a $15.00 price objective on shares of InMode and gave the company a “hold” rating in a research note on Wednesday, December 17th.

Hedge Funds Weigh In On InMode

Several hedge funds have recently made changes to their positions in the business. Leonteq Securities AG bought a new stake in InMode during the fourth quarter worth approximately $26,000. Quadrant Capital Group LLC increased its stake in InMode by 127.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,945 shares of the healthcare company’s stock worth $29,000 after purchasing an additional 1,091 shares in the last quarter. Advisory Services Network LLC acquired a new stake in InMode during the 3rd quarter worth about $37,000. Basepoint Wealth LLC purchased a new stake in InMode during the fourth quarter valued at about $39,000. Finally, Blue Trust Inc. boosted its holdings in shares of InMode by 93.7% in the third quarter. Blue Trust Inc. now owns 2,861 shares of the healthcare company’s stock worth $43,000 after buying an additional 1,384 shares during the period. Institutional investors and hedge funds own 68.04% of the company’s stock.

InMode Stock Performance

Shares of NASDAQ:INMD opened at $14.05 on Friday. The company’s fifty day moving average is $14.66 and its two-hundred day moving average is $14.71. InMode has a 1-year low of $13.14 and a 1-year high of $19.78. The stock has a market capitalization of $890.21 million, a price-to-earnings ratio of 9.76 and a beta of 2.19.

InMode (NASDAQ:INMD) last announced its quarterly earnings data on Tuesday, February 10th. The healthcare company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. InMode had a net margin of 25.33% and a return on equity of 14.52%. The business had revenue of $103.85 million during the quarter, compared to the consensus estimate of $104.64 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts expect that InMode will post 1.75 EPS for the current fiscal year.

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.