InMode’s (INMD) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of InMode (NASDAQ:INMD) in a report issued on Tuesday,Benzinga reports.

Several other equities research analysts have also issued reports on the company. Barclays reduced their price target on InMode from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, January 9th. BTIG Research started coverage on shares of InMode in a research note on Thursday, October 17th. They issued a “buy” rating and a $25.00 target price for the company. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $23.00.

InMode Trading Up 1.6 %

INMD opened at $18.25 on Tuesday. The stock has a fifty day moving average price of $17.41 and a 200 day moving average price of $17.20. InMode has a 1 year low of $14.87 and a 1 year high of $26.80. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 9.86 and a beta of 2.13.

Institutional Investors Weigh In On InMode

Several institutional investors and hedge funds have recently added to or reduced their stakes in INMD. Nisa Investment Advisors LLC raised its position in shares of InMode by 314.7% in the third quarter. Nisa Investment Advisors LLC now owns 3,550 shares of the healthcare company’s stock valued at $60,000 after purchasing an additional 2,694 shares during the period. Quarry LP raised its holdings in InMode by 154.3% in the 3rd quarter. Quarry LP now owns 3,781 shares of the healthcare company’s stock worth $64,000 after acquiring an additional 2,294 shares during the period. SBI Securities Co. Ltd. bought a new position in InMode in the 4th quarter worth $87,000. National Bank of Canada FI lifted its position in InMode by 6.2% during the 3rd quarter. National Bank of Canada FI now owns 9,985 shares of the healthcare company’s stock worth $169,000 after acquiring an additional 579 shares during the last quarter. Finally, GW Henssler & Associates Ltd. bought a new stake in InMode during the third quarter valued at about $177,000. 68.04% of the stock is currently owned by institutional investors and hedge funds.

About InMode

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.