InMode Ltd. (NASDAQ:INMD) Receives Average Recommendation of “Hold” from Brokerages

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

Several research firms recently commented on INMD. Barclays set a $19.00 target price on shares of InMode and gave the company an “overweight” rating in a research note on Thursday, May 7th. Robert W. Baird decreased their price target on shares of InMode from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of InMode in a report on Thursday, August 6th.

InMode Trading Down 0.8%

Shares of InMode stock opened at $14.92 on Friday. InMode has a 52 week low of $12.72 and a 52 week high of $16.74. The stock has a market cap of $857.60 million, a PE ratio of 12.13 and a beta of 1.89. The company’s 50-day moving average price is $14.80 and its two-hundred day moving average price is $14.27.

InMode (NASDAQ:INMD) last posted its quarterly earnings data on Wednesday, August 5th. The healthcare company reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $95.59 million during the quarter, compared to analyst estimates of $94.89 million. InMode had a net margin of 20.69% and a return on equity of 11.99%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 EPS.

Hedge Funds Weigh In On InMode

A number of hedge funds have recently modified their holdings of INMD. NINE MASTS CAPITAL Ltd acquired a new stake in shares of InMode during the second quarter worth $439,000. Wellington Management Group LLP acquired a new position in shares of InMode in the 2nd quarter valued at $1,254,000. Public Employees Retirement System of Ohio acquired a new position in shares of InMode in the 2nd quarter valued at $319,000. Steadtrust LLC increased its stake in InMode by 251.9% in the 2nd quarter. Steadtrust LLC now owns 91,500 shares of the healthcare company’s stock worth $1,338,000 after purchasing an additional 65,500 shares in the last quarter. Finally, Prospect Capital Advisors LLC increased its stake in InMode by 50.6% in the 1st quarter. Prospect Capital Advisors LLC now owns 313,450 shares of the healthcare company’s stock worth $4,288,000 after purchasing an additional 105,250 shares in the last quarter. 68.04% of the stock is currently owned by institutional investors and hedge funds.

About InMode

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.