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

Shares of InMode Ltd. (NASDAQ:INMD) have earned an average recommendation of “Hold” from the eight research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $16.00.

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

InMode Price Performance

InMode stock opened at $15.17 on Wednesday. The company has a market capitalization of $871.97 million, a PE ratio of 11.15 and a beta of 1.91. InMode has a one year low of $12.72 and a one year high of $16.74. The business has a 50 day simple moving average of $14.25 and a 200 day simple moving average of $14.20.

InMode (NASDAQ:INMD) last announced its quarterly earnings results on Wednesday, May 6th. The healthcare company reported $0.25 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $79.84 million. During the same period in the prior year, the firm earned $0.31 EPS. InMode’s quarterly revenue was up 5.3% compared to the same quarter last year.

Hedge Funds Weigh In On InMode

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. DGS Capital Management LLC boosted its holdings in shares of InMode by 127.7% in the 4th quarter. DGS Capital Management LLC now owns 79,613 shares of the healthcare company’s stock worth $1,170,000 after acquiring an additional 44,654 shares in the last quarter. State of Wyoming bought a new stake in InMode during the 4th quarter worth approximately $624,000. Systematic Financial Management LP increased its holdings in InMode by 6.7% during the 1st quarter. Systematic Financial Management LP now owns 1,154,457 shares of the healthcare company’s stock valued at $15,793,000 after purchasing an additional 72,041 shares in the last quarter. Meros Investment Management LP increased its holdings in InMode by 10.0% during the 4th quarter. Meros Investment Management LP now owns 404,453 shares of the healthcare company’s stock valued at $5,941,000 after purchasing an additional 36,866 shares in the last quarter. Finally, UBS Group AG raised its position in InMode by 41.0% in the 4th quarter. UBS Group AG now owns 308,222 shares of the healthcare company’s stock valued at $4,528,000 after purchasing an additional 89,591 shares during the last quarter. 68.04% of the stock is currently owned by institutional investors and hedge funds.

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.