Analysts Set InMode Ltd. (NASDAQ:INMD) Target Price at $16.00

Shares of InMode Ltd. (NASDAQ:INMD) have been assigned a consensus rating of “Hold” from the eight ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $16.00.

Several equities analysts have weighed in on the company. Barclays set a $19.00 price objective on InMode and gave the company an “overweight” rating in a research note on Thursday, May 7th. Robert W. Baird reduced their target price on shares of InMode from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th.

InMode Stock Up 0.6%

Shares of NASDAQ:INMD opened at $15.47 on Wednesday. The firm has a market cap of $889.22 million, a P/E ratio of 11.38 and a beta of 1.91. InMode has a 12-month low of $12.72 and a 12-month high of $16.74. The business has a fifty day simple moving average of $14.30 and a 200 day simple moving average of $14.20.

InMode (NASDAQ:INMD) last announced its quarterly earnings data on Wednesday, May 6th. The healthcare company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). The business had revenue of $82.02 million during the quarter, compared to analyst estimates of $79.84 million. InMode had a net margin of 23.27% and a return on equity of 13.47%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 earnings per share.

Institutional Trading of InMode

Several hedge funds and other institutional investors have recently modified their holdings of the business. Steel Partners Holdings L.P. lifted its position in shares of InMode by 154.8% during the first quarter. Steel Partners Holdings L.P. now owns 1,795,361 shares of the healthcare company’s stock worth $24,561,000 after acquiring an additional 1,090,697 shares in the last quarter. Cooper Creek Partners Management LLC bought a new position in shares of InMode in the third quarter worth $14,980,000. Millennium Management LLC grew its position in shares of InMode by 111.4% in the fourth quarter. Millennium Management LLC now owns 1,778,681 shares of the healthcare company’s stock valued at $26,129,000 after purchasing an additional 937,376 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of InMode by 234.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company’s stock valued at $19,935,000 after purchasing an additional 788,157 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of InMode by 142.1% in the second quarter. Bank of America Corp DE now owns 862,209 shares of the healthcare company’s stock valued at $12,450,000 after purchasing an additional 506,134 shares in the last quarter. Institutional investors own 68.04% of the company’s stock.

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.