Analysts Set InMode Ltd. (NASDAQ:INMD) PT at $74.80

InMode Ltd. (NASDAQ:INMDGet Rating) has been assigned a consensus rating of “Buy” from the six research firms that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $74.80.

Several analysts have issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $82.00 price target on shares of InMode in a research report on Monday, April 18th. Robert W. Baird dropped their target price on shares of InMode from $82.00 to $57.00 in a report on Tuesday, May 3rd. Finally, Canaccord Genuity Group dropped their target price on shares of InMode from $72.00 to $50.00 and set a “buy” rating for the company in a report on Thursday.

Several institutional investors have recently bought and sold shares of the company. Squarepoint Ops LLC lifted its holdings in InMode by 90.0% in the third quarter. Squarepoint Ops LLC now owns 7,600 shares of the healthcare company’s stock worth $1,212,000 after buying an additional 3,600 shares during the period. Marshall Wace LLP lifted its holdings in InMode by 225.1% in the third quarter. Marshall Wace LLP now owns 164,426 shares of the healthcare company’s stock worth $26,218,000 after buying an additional 113,845 shares during the period. Victory Capital Management Inc. lifted its holdings in InMode by 89.6% in the fourth quarter. Victory Capital Management Inc. now owns 833,695 shares of the healthcare company’s stock worth $58,842,000 after buying an additional 394,066 shares during the period. Truist Financial Corp purchased a new stake in InMode in the third quarter worth about $226,000. Finally, EAM Global Investors LLC purchased a new stake in InMode in the third quarter worth about $1,706,000. Institutional investors own 53.58% of the company’s stock.

NASDAQ INMD opened at $24.35 on Thursday. The company has a 50-day simple moving average of $34.22 and a two-hundred day simple moving average of $55.19. InMode has a 12-month low of $22.89 and a 12-month high of $99.27. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 12.39 and a beta of 2.12.

InMode (NASDAQ:INMDGet Rating) last posted its quarterly earnings results on Monday, May 2nd. The healthcare company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. InMode had a net margin of 44.79% and a return on equity of 43.98%. The business had revenue of $85.90 million during the quarter, compared to analyst estimates of $83.45 million. During the same period in the prior year, the business posted $0.69 earnings per share. The company’s revenue was up 31.1% on a year-over-year basis.

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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