Analysts Set InMode Ltd. (NASDAQ:INMD) PT at $22.40

InMode Ltd. (NASDAQ:INMD) has been given a consensus rating of “Hold” by the six brokerages that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $22.40.

A number of equities research analysts have weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of InMode in a research note on Thursday, July 11th. Jefferies Financial Group lowered InMode from a “buy” rating to a “hold” rating and decreased their target price for the stock from $21.00 to $19.00 in a research report on Tuesday, July 23rd. Canaccord Genuity Group decreased their target price on InMode from $21.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Finally, Barclays decreased their target price on InMode from $33.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, July 15th.

InMode Stock Down 8.6 %

Shares of NASDAQ INMD opened at $15.50 on Wednesday. InMode has a fifty-two week low of $15.18 and a fifty-two week high of $30.76. The business has a 50 day moving average price of $16.58 and a two-hundred day moving average price of $17.84. The firm has a market cap of $1.30 billion, a PE ratio of 7.35 and a beta of 2.17.

InMode (NASDAQ:INMD) last issued its quarterly earnings data on Thursday, August 1st. The healthcare company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). InMode had a net margin of 35.81% and a return on equity of 21.00%. The business had revenue of $102.60 million for the quarter, compared to analyst estimates of $104.81 million. During the same quarter last year, the business earned $0.65 EPS. InMode’s revenue for the quarter was down 24.6% compared to the same quarter last year. On average, analysts anticipate that InMode will post 1.63 earnings per share for the current year.

Institutional Trading of InMode

Several hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its holdings in shares of InMode by 11.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,068,396 shares of the healthcare company’s stock worth $37,728,000 after purchasing an additional 214,200 shares during the last quarter. Doma Perpetual Capital Management LLC lifted its holdings in shares of InMode by 210.7% in the 2nd quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company’s stock worth $36,685,000 after purchasing an additional 1,363,841 shares during the last quarter. DDD Partners LLC lifted its holdings in shares of InMode by 19.4% in the 2nd quarter. DDD Partners LLC now owns 1,266,678 shares of the healthcare company’s stock worth $23,104,000 after purchasing an additional 205,947 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of InMode by 191.9% in the 2nd quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock worth $20,520,000 after purchasing an additional 739,629 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of InMode by 63.6% in the 2nd quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company’s stock worth $20,502,000 after purchasing an additional 437,122 shares during the last quarter. Institutional investors own 68.04% of the company’s stock.

InMode Company Profile

InMode Ltd. designs, develops, manufactures, and markets minimally invasive aesthetic medical products based on its proprietary radiofrequency assisted lipolysis and deep subdermal fractional radiofrequency technologies in the United States and internationally. 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, as well as for use in women's health conditions and procedures.