Zacks Investment Research Lowers InMode (NASDAQ:INMD) to Hold


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Zacks Investment Research cut shares of InMode (NASDAQ:INMD) from a strong-buy rating to a hold rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “InMode Ltd. is a provider of medical technologies. It develops, manufactures and markets devices harnessing novel radio-frequency technology. The company serves plastic surgery, gynecology, dermatology, otolaryngology and ophthalmology. InMode Ltd. is based in Yokneam, Israel. “

Several other brokerages have also recently issued reports on INMD. Canaccord Genuity lifted their price objective on shares of InMode from $42.00 to $51.00 and gave the stock a buy rating in a research note on Wednesday, October 21st. Robert W. Baird lifted their price objective on shares of InMode from $43.00 to $55.00 and gave the stock an outperform rating in a research note on Tuesday, October 13th. They noted that the move was a valuation call. BidaskClub cut shares of InMode from a strong-buy rating to a buy rating in a research note on Thursday, December 31st. ValuEngine cut shares of InMode from a buy rating to a hold rating in a research note on Monday, November 23rd. Finally, UBS Group lifted their target price on shares of InMode from $43.00 to $47.00 and gave the stock a buy rating in a research report on Wednesday, October 14th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. InMode presently has a consensus rating of Buy and a consensus price target of $48.00.

Shares of NASDAQ:INMD opened at $55.22 on Wednesday. InMode has a fifty-two week low of $13.14 and a fifty-two week high of $55.37. The company has a market cap of $1.77 billion, a PE ratio of 39.73 and a beta of 1.96. The company’s 50-day moving average price is $46.14 and its 200 day moving average price is $38.02.

InMode (NASDAQ:INMD) last announced its quarterly earnings data on Thursday, November 12th. The healthcare company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.15. The company had revenue of $59.70 million for the quarter, compared to analysts’ expectations of $52.62 million. InMode had a net margin of 32.57% and a return on equity of 28.56%. The business’s revenue was up 49.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. As a group, sell-side analysts anticipate that InMode will post 1.48 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC increased its position in shares of InMode by 50.0% in the third quarter. Signaturefd LLC now owns 1,500 shares of the healthcare company’s stock worth $54,000 after acquiring an additional 500 shares in the last quarter. Bank of America Corp DE grew its position in InMode by 472.0% during the second quarter. Bank of America Corp DE now owns 1,430 shares of the healthcare company’s stock valued at $41,000 after purchasing an additional 1,180 shares in the last quarter. California State Teachers Retirement System grew its position in InMode by 8.1% during the third quarter. California State Teachers Retirement System now owns 16,910 shares of the healthcare company’s stock valued at $612,000 after purchasing an additional 1,261 shares in the last quarter. Advisor Group Holdings Inc. grew its position in InMode by 14.9% during the second quarter. Advisor Group Holdings Inc. now owns 10,021 shares of the healthcare company’s stock valued at $284,000 after purchasing an additional 1,297 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in InMode by 27.0% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,348 shares of the healthcare company’s stock valued at $230,000 after purchasing an additional 1,348 shares in the last quarter. 27.74% of the stock is currently owned by institutional investors and hedge funds.

InMode Company Profile

InMode Ltd. designs, develops, manufactures, and markets minimally-invasive aesthetic medical products based on its proprietary radio frequency assisted lipolysis and deep subdermal fractional radio frequency technologies. 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.

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