InMode (NASDAQ:INMD) Receives New Coverage from Analysts at BTIG Research

BTIG Research started coverage on shares of InMode (NASDAQ:INMD) in a research report report published on Thursday morning, Marketbeat.com reports. The firm issued a buy rating and a $25.00 target price on the healthcare company’s stock.

Several other equities analysts have also recently issued reports on INMD. Jefferies Financial Group cut shares of InMode from a “buy” rating to a “hold” rating and reduced their price target for the company from $21.00 to $19.00 in a research report on Tuesday, July 23rd. Canaccord Genuity Group decreased their target price on InMode from $21.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Barclays dropped their price target on InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Needham & Company LLC reissued a “hold” rating on shares of InMode in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, InMode currently has a consensus rating of “Hold” and a consensus target price of $22.60.

InMode Stock Up 2.0 %

Shares of INMD opened at $17.21 on Thursday. The stock has a market capitalization of $1.45 billion, a P/E ratio of 8.16 and a beta of 2.17. InMode has a twelve month low of $14.87 and a twelve month high of $26.80. The firm has a fifty day simple moving average of $16.25 and a two-hundred day simple moving average of $17.46.

InMode (NASDAQ:INMD) last posted its earnings results on Thursday, August 1st. The healthcare company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.04). InMode had a return on equity of 21.00% and a net margin of 35.81%. The business had revenue of $102.60 million during the quarter, compared to the consensus estimate of $104.81 million. During the same period in the previous year, the business earned $0.65 earnings per share. The firm’s revenue for the quarter was down 24.6% compared to the same quarter last year. Sell-side analysts expect that InMode will post 1.63 EPS for the current fiscal year.

Institutional Trading of InMode

Several institutional investors have recently bought and sold shares of INMD. Allspring Global Investments Holdings LLC grew its holdings in shares of InMode by 9.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the healthcare company’s stock valued at $165,000 after buying an additional 691 shares during the last quarter. Hohimer Wealth Management LLC raised its position in InMode by 6.5% in the 1st quarter. Hohimer Wealth Management LLC now owns 14,923 shares of the healthcare company’s stock worth $322,000 after buying an additional 906 shares during the last quarter. Headlands Technologies LLC lifted its stake in InMode by 118.2% during the 1st quarter. Headlands Technologies LLC now owns 1,916 shares of the healthcare company’s stock valued at $41,000 after acquiring an additional 1,038 shares during the period. ProShare Advisors LLC grew its stake in shares of InMode by 8.5% in the first quarter. ProShare Advisors LLC now owns 13,920 shares of the healthcare company’s stock worth $301,000 after acquiring an additional 1,094 shares during the period. Finally, Cetera Advisors LLC grew its stake in shares of InMode by 8.9% in the first quarter. Cetera Advisors LLC now owns 17,028 shares of the healthcare company’s stock worth $368,000 after acquiring an additional 1,394 shares during the period. 68.04% of the stock is owned by hedge funds and other 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.