InMode Ltd. (NASDAQ:INMD) Receives Average Rating of “Hold” from Analysts

InMode Ltd. (NASDAQ:INMD) has been assigned an average rating of “Hold” from the ten ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $16.80.

A number of equities analysts recently commented on the stock. UBS Group dropped their price target on shares of InMode from $16.25 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Zacks Research raised shares of InMode from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Canaccord Genuity Group boosted their target price on InMode from $14.00 to $16.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Wall Street Zen cut InMode from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of InMode in a report on Wednesday, October 8th.

InMode Stock Down 0.4%

Shares of INMD opened at $14.36 on Tuesday. The business has a fifty day moving average of $14.77 and a 200 day moving average of $14.58. The company has a market cap of $907.70 million, a PE ratio of 6.65 and a beta of 2.14. InMode has a 52-week low of $13.14 and a 52-week high of $19.78.

Institutional Trading of InMode

Several institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC grew its holdings 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. Advisory Services Network LLC bought a new stake in InMode during the 3rd quarter valued at about $37,000. Blue Trust Inc. boosted its position in InMode by 93.7% in the 3rd quarter. Blue Trust Inc. now owns 2,861 shares of the healthcare company’s stock valued at $43,000 after buying an additional 1,384 shares during the period. State of Alaska Department of Revenue bought a new position in InMode in the 3rd quarter worth about $52,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in InMode in the 3rd quarter worth about $69,000. 68.04% of the stock is currently owned by institutional investors.

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.