Needham & Company LLC Reaffirms Buy Rating for InMode (NASDAQ:INMD)

InMode (NASDAQ:INMD – Get Rating)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research note issued on Monday, TipRanks reports. They presently have a $82.00 price objective on the healthcare company’s stock. Needham & Company LLC’s price objective points to a potential upside of 178.63% from the company’s previous close.

Shares of INMD traded down $0.97 during mid-day trading on Monday, reaching $29.43. 38,717 shares of the company’s stock were exchanged, compared to its average volume of 1,939,385. The stock has a market capitalization of $2.45 billion, a PE ratio of 15.35 and a beta of 1.92. The business’s fifty day simple moving average is $39.55 and its 200-day simple moving average is $60.37. InMode has a 52-week low of $30.10 and a 52-week high of $99.27.

InMode (NASDAQ:INMD – Get Rating) last announced its earnings results on Thursday, February 10th. The healthcare company reported $0.60 earnings per share for the quarter. InMode had a return on equity of 46.14% and a net margin of 46.14%. The company had revenue of $110.50 million for the quarter, compared to the consensus estimate of $103.54 million. During the same period last year, the business posted $0.94 EPS. The company’s revenue was up 46.9% on a year-over-year basis.

Several hedge funds have recently added to or reduced their stakes in the company. Core Wealth Advisors Inc. acquired a new position in shares of InMode during the third quarter worth about $40,000. Knuff & Co LLC acquired a new position in InMode during the 3rd quarter worth approximately $40,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of InMode during the 3rd quarter worth approximately $48,000. O Shaughnessy Asset Management LLC lifted its holdings in shares of InMode by 540.7% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 378 shares of the healthcare company’s stock valued at $30,000 after buying an additional 319 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of InMode by 420.3% in the fourth quarter. Pacer Advisors Inc. now owns 385 shares of the healthcare company’s stock valued at $27,000 after buying an additional 311 shares in the last quarter. Institutional investors own 35.23% of the company’s stock.

InMode Company Profile (Get Rating)

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.

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