InMode Ltd. (NASDAQ:INMD) Receives $22.40 Consensus Target Price from Analysts

Shares of InMode Ltd. (NASDAQ:INMD) have been assigned a consensus rating of “Hold” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $22.40.

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group downgraded InMode from a “buy” rating to a “hold” rating and dropped their target price for the stock from $21.00 to $19.00 in a research report on Tuesday, July 23rd. Canaccord Genuity Group dropped their price objective on InMode from $21.00 to $16.00 and set a “hold” rating for the company in a report on Friday, July 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research note on Thursday, July 11th. Finally, Barclays lowered their price target on shares of InMode from $33.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, July 15th.

Institutional Trading of InMode

A number of institutional investors and hedge funds have recently modified their holdings of INMD. Nordea Investment Management AB increased its stake in InMode by 161.1% in the first quarter. Nordea Investment Management AB now owns 361,701 shares of the healthcare company’s stock valued at $7,853,000 after purchasing an additional 223,191 shares in the last quarter. Principal Securities Inc. acquired a new stake in InMode during the 4th quarter worth $32,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in InMode during the 1st quarter worth $959,000. ARK Investment Management LLC lifted its holdings in InMode by 35.0% during the second quarter. ARK Investment Management LLC now owns 124,905 shares of the healthcare company’s stock worth $2,278,000 after acquiring an additional 32,369 shares in the last quarter. Finally, Doma Perpetual Capital Management LLC acquired a new position in InMode in the fourth quarter valued at about $2,991,000. 68.04% of the stock is owned by institutional investors.

InMode Stock Up 1.4 %

Shares of NASDAQ INMD opened at $17.43 on Wednesday. InMode has a 12-month low of $15.39 and a 12-month high of $33.62. The firm’s 50-day simple moving average is $16.64 and its 200 day simple moving average is $17.94. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 8.26 and a beta of 2.17.

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

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.