InMode (NASDAQ:INMD) Upgraded at Zacks Research

Zacks Research upgraded shares of InMode (NASDAQ:INMD) from a strong sell rating to a hold rating in a research report released on Monday,Zacks.com reports.

INMD has been the topic of a number of other research reports. Barclays dropped their price target on InMode from $24.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research report on Wednesday, July 30th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $15.00 price objective on shares of InMode in a report on Friday, July 11th. One equities research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $18.04.

InMode Stock Up 2.6%

Shares of NASDAQ INMD opened at $15.28 on Monday. The company has a market capitalization of $965.85 million, a PE ratio of 6.19 and a beta of 2.09. The stock’s 50 day moving average price is $14.61 and its 200-day moving average price is $14.93. InMode has a twelve month low of $13.14 and a twelve month high of $19.85.

InMode (NASDAQ:INMD) last released its earnings results on Wednesday, July 30th. The healthcare company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). InMode had a return on equity of 18.38% and a net margin of 44.50%.The business had revenue of $95.60 million for the quarter, compared to the consensus estimate of $98.45 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, research analysts expect that InMode will post 1.75 EPS for the current fiscal year.

Institutional Investors Weigh In On InMode

Several large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its position in shares of InMode by 63.1% in the second quarter. Parallel Advisors LLC now owns 1,973 shares of the healthcare company’s stock worth $28,000 after purchasing an additional 763 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of InMode by 6.1% in the 1st quarter. American Century Companies Inc. now owns 18,994 shares of the healthcare company’s stock worth $337,000 after purchasing an additional 1,087 shares in the last quarter. CWM LLC increased its position in shares of InMode by 106.4% during the 1st quarter. CWM LLC now owns 2,369 shares of the healthcare company’s stock valued at $42,000 after purchasing an additional 1,221 shares during the last quarter. Aviva PLC raised its holdings in shares of InMode by 3.9% during the 2nd quarter. Aviva PLC now owns 33,264 shares of the healthcare company’s stock valued at $480,000 after buying an additional 1,263 shares in the last quarter. Finally, Cary Street Partners Financial LLC lifted its position in InMode by 1.0% in the 1st quarter. Cary Street Partners Financial LLC now owns 133,867 shares of the healthcare company’s stock worth $2,375,000 after buying an additional 1,315 shares during the last quarter. 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.