InMode Ltd. (NASDAQ:INMD) Given Average Recommendation of “Hold” by Brokerages

InMode Ltd. (NASDAQ:INMD) has been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $16.80.

A number of brokerages have weighed in on INMD. Robert W. Baird set a $17.00 target price on InMode in a report on Wednesday, February 11th. Canaccord Genuity Group set a $15.00 price objective on InMode and gave the stock a “hold” rating in a research report on Wednesday, December 17th. UBS Group reduced their price objective on InMode from $16.25 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. BTIG Research reissued a “neutral” rating on shares of InMode in a research note on Monday, January 26th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of InMode in a report on Thursday, January 22nd.

Hedge Funds Weigh In On InMode

Several institutional investors and hedge funds have recently added to or reduced their stakes in INMD. Royal Bank of Canada increased its holdings in shares of InMode by 5.7% during the first quarter. Royal Bank of Canada now owns 242,398 shares of the healthcare company’s stock worth $4,299,000 after buying an additional 13,032 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of InMode during the 1st quarter valued at $317,000. Goldman Sachs Group Inc. grew its position in InMode by 234.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company’s stock worth $19,935,000 after acquiring an additional 788,157 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in InMode during the 2nd quarter worth $195,000. Finally, MQS Management LLC acquired a new position in InMode in the 2nd quarter worth about $200,000. Institutional investors own 68.04% of the company’s stock.

InMode Stock Up 0.8%

INMD stock opened at $15.22 on Friday. The company’s 50-day moving average price is $14.69 and its two-hundred day moving average price is $14.71. The firm has a market cap of $964.34 million, a P/E ratio of 10.57 and a beta of 2.19. InMode has a 12 month low of $13.14 and a 12 month high of $19.78.

InMode (NASDAQ:INMD) last posted its quarterly earnings results on Tuesday, February 10th. The healthcare company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. The business had revenue of $103.85 million for the quarter, compared to analyst estimates of $104.64 million. InMode had a net margin of 25.33% and a return on equity of 14.52%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. Equities analysts predict that InMode will post 1.75 EPS for the current year.

InMode Company Profile

InMode Ltd. (NASDAQ:INMD) is a medical technology company headquartered in Israel that develops, manufactures and markets devices for aesthetic and medical treatments. The company specializes in energy-based technologies, primarily radiofrequency platforms, designed to deliver minimally-invasive and non-invasive procedures.

InMode’s product portfolio encompasses a range of modular systems targeting body contouring, facial rejuvenation, skin tightening and other cosmetic applications. Key offerings include devices built on proprietary radiofrequency and radiofrequency-assisted lipolysis, enabling physicians to perform treatments such as tissue coagulation, skin resurfacing and subdermal volumizing with reduced downtime.

The company distributes its technologies through direct sales operations and distribution partners, serving medical professionals across multiple geographies including North America, Europe, Asia Pacific and Latin America.