InMode (NASDAQ:INMD) Shares Gap Up – Should You Buy?

InMode Ltd. (NASDAQ:INMD) shares gapped up before the market opened on Monday . The stock had previously closed at $13.95, but opened at $15.70. InMode shares last traded at $15.5690, with a volume of 700,344 shares traded.

Analysts Set New Price Targets

A number of research firms recently commented on INMD. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a report on Friday, October 10th. Wall Street Zen cut shares of InMode from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Canaccord Genuity Group set a $15.00 price target on InMode and gave the stock a “hold” rating in a research report on Wednesday, December 17th. Zacks Research upgraded shares of InMode from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Finally, BTIG Research reissued a “neutral” rating on shares of InMode in a report on Monday. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $16.60.

InMode Stock Up 10.9%

The stock’s 50-day simple moving average is $14.35 and its 200 day simple moving average is $14.61. The firm has a market cap of $977.86 million, a P/E ratio of 7.15 and a beta of 2.13.

Institutional Trading of InMode

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INMD. M.E. Allison & CO. Inc. bought a new stake in shares of InMode during the fourth quarter valued at approximately $152,000. CWA Asset Management Group LLC increased its stake in InMode by 2.7% in the 4th quarter. CWA Asset Management Group LLC now owns 94,541 shares of the healthcare company’s stock valued at $1,389,000 after buying an additional 2,471 shares during the last quarter. Advisory Services Network LLC bought a new stake in InMode during the third quarter worth $37,000. Polymer Capital Management HK LTD purchased a new position in shares of InMode in the 3rd quarter worth about $199,000. Finally, Doma Perpetual Capital Management LLC grew its position in shares of InMode by 26.8% during the 3rd quarter. Doma Perpetual Capital Management LLC now owns 2,838,431 shares of the healthcare company’s stock valued at $42,293,000 after acquiring an additional 599,108 shares during the period. 68.04% of the stock is owned by institutional investors.

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.