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

Shares of InMode Ltd. (NASDAQ:INMD) have received an average recommendation of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $16.00.

A number of equities research analysts recently commented on the stock. Barclays set a $19.00 price target on shares of InMode and gave the stock an “overweight” rating in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of InMode in a report on Thursday, January 22nd. Robert W. Baird lowered their price target on shares of InMode from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of InMode in a report on Monday, January 26th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. ARGA Investment Management LP grew its stake in InMode by 355.0% in the 3rd quarter. ARGA Investment Management LP now owns 143,658 shares of the healthcare company’s stock valued at $2,141,000 after buying an additional 112,087 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new position in InMode in the 3rd quarter valued at approximately $1,564,000. State of New Jersey Common Pension Fund D grew its stake in InMode by 612.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 96,120 shares of the healthcare company’s stock valued at $1,432,000 after buying an additional 82,621 shares in the last quarter. Doma Perpetual Capital Management LLC grew its stake in InMode by 26.8% in 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 buying an additional 599,108 shares in the last quarter. Finally, Ancient Art L.P. purchased a new position in InMode in the 3rd quarter valued at approximately $14,254,000. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

InMode Stock Up 0.1%

INMD stock opened at $14.05 on Friday. The firm has a market cap of $890.21 million, a PE ratio of 10.33 and a beta of 1.97. The business has a 50 day moving average of $13.83 and a 200-day moving average of $14.28. InMode has a 12-month low of $12.72 and a 12-month high of $16.74.

InMode (NASDAQ:INMD) last released its earnings results on Wednesday, May 6th. The healthcare company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.05). The business had revenue of $82.02 million during the quarter, compared to the consensus estimate of $79.84 million. InMode had a net margin of 23.27% and a return on equity of 13.47%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 earnings per share.

About InMode

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.