Needham & Company LLC Reaffirms “Hold” Rating for InMode (NASDAQ:INMD)

Needham & Company LLC restated their hold rating on shares of InMode (NASDAQ:INMD) in a research note released on Friday morning, Benzinga reports.

A number of other research firms have also recently commented on INMD. Barclays cut their target price on shares of InMode from $34.00 to $33.00 and set an overweight rating for the company in a research note on Friday, April 12th. UBS Group increased their price objective on InMode from $24.00 to $26.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, InMode has a consensus rating of Hold and a consensus price target of $32.80.

InMode Stock Performance

InMode stock opened at $18.65 on Friday. The stock has a 50-day moving average of $19.86 and a two-hundred day moving average of $21.34. The stock has a market cap of $1.57 billion, a PE ratio of 8.84 and a beta of 2.20. InMode has a one year low of $16.72 and a one year high of $48.25.

InMode (NASDAQ:INMD) last issued its earnings results on Tuesday, February 13th. The healthcare company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $126.80 million for the quarter, compared to analyst estimates of $124.77 million. InMode had a return on equity of 26.15% and a net margin of 38.84%. InMode’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 earnings per share. As a group, sell-side analysts predict that InMode will post 2.04 EPS for the current fiscal year.

Institutional Trading of InMode

Several institutional investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC purchased a new stake in InMode during the 3rd quarter worth about $27,000. Principal Securities Inc. acquired a new position in InMode in the fourth quarter valued at approximately $32,000. Carmel Capital Partners LLC acquired a new position in shares of InMode in the 3rd quarter valued at $36,000. Sunbelt Securities Inc. purchased a new position in shares of InMode during the third quarter worth about $47,000. Finally, Trust Co. of Vermont grew its stake in InMode by 32.8% during the 4th quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock worth $48,000 after buying an additional 536 shares during the last quarter. Institutional investors and hedge funds own 68.04% of the company’s stock.

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.