InMode’s (INMD) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of InMode (NASDAQ:INMD) in a report published on Monday,Benzinga reports.

Several other analysts have also commented on INMD. Barclays lifted their price objective on shares of InMode from $26.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Jefferies Financial Group decreased their target price on shares of InMode from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.20.

InMode Stock Performance

Shares of INMD stock opened at $14.26 on Monday. The firm has a market cap of $991.91 million, a price-to-earnings ratio of 6.07 and a beta of 1.96. InMode has a 52 week low of $13.68 and a 52 week high of $19.85. The firm’s 50-day simple moving average is $17.25 and its two-hundred day simple moving average is $17.63.

Hedge Funds Weigh In On InMode

A number of hedge funds and other institutional investors have recently bought and sold shares of INMD. Orion Capital Management LLC purchased a new position in shares of InMode in the fourth quarter worth about $65,000. SBI Securities Co. Ltd. purchased a new position in InMode during the 4th quarter valued at about $87,000. Farther Finance Advisors LLC increased its holdings in InMode by 26.2% during the 4th quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company’s stock valued at $93,000 after purchasing an additional 1,154 shares during the period. Covestor Ltd increased its holdings in InMode by 13.9% during the 4th quarter. Covestor Ltd now owns 5,936 shares of the healthcare company’s stock valued at $99,000 after purchasing an additional 723 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in InMode by 6,128.7% during the 4th quarter. Lazard Asset Management LLC now owns 6,291 shares of the healthcare company’s stock valued at $105,000 after purchasing an additional 6,190 shares during the period. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Company Profile

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.