InMode (NASDAQ:INMD) Shares Gap Up – Time to Buy?

InMode Ltd. (NASDAQ:INMD)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $13.95, but opened at $15.70. InMode shares last traded at $15.5690, with a volume of 700,344 shares.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Friday, October 10th. Canaccord Genuity Group set a $15.00 target price on shares of InMode and gave the company a “hold” rating in a research note on Wednesday, December 17th. Wall Street Zen cut shares of InMode from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. UBS Group dropped their target price on shares of InMode from $16.25 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Finally, BTIG Research reiterated a “neutral” rating on shares of InMode in a report on Monday. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, InMode presently has an average rating of “Hold” and a consensus price target of $16.60.

InMode Price Performance

The firm has a market capitalization of $955.74 million, a PE ratio of 7.00 and a beta of 2.13. The business has a 50-day simple moving average of $14.43 and a 200-day simple moving average of $14.62.

Hedge Funds Weigh In On InMode

Several hedge funds have recently added to or reduced their stakes in INMD. Advisory Services Network LLC bought a new stake in InMode in the third quarter worth about $37,000. Blue Trust Inc. boosted its holdings in InMode by 93.7% during the 3rd quarter. Blue Trust Inc. now owns 2,861 shares of the healthcare company’s stock valued at $43,000 after acquiring an additional 1,384 shares during the period. State of Alaska Department of Revenue bought a new position in InMode in the 3rd quarter valued at $52,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of InMode during the third quarter worth $69,000. Finally, Rothschild Investment LLC bought a new position in shares of InMode in the third quarter worth about $85,000. 68.04% of the stock is currently owned by institutional investors.

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.