InMode (NASDAQ:INMD) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of InMode (NASDAQ:INMD) in a research note published on Tuesday morning,Benzinga reports.

A number of other research firms have also commented on INMD. BTIG Research started coverage on shares of InMode in a research note on Thursday, October 17th. They issued a “buy” rating and a $25.00 price objective on the stock. Barclays cut their target price on shares of InMode from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, January 9th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.40.

InMode Stock Performance

NASDAQ:INMD opened at $17.50 on Tuesday. The firm’s fifty day moving average is $17.48 and its 200-day moving average is $17.20. InMode has a 52 week low of $14.87 and a 52 week high of $26.80. The firm has a market cap of $1.47 billion, a P/E ratio of 9.46 and a beta of 2.13.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Systematic Financial Management LP boosted its stake in InMode by 13.3% during the third quarter. Systematic Financial Management LP now owns 982,111 shares of the healthcare company’s stock worth $16,647,000 after acquiring an additional 115,492 shares in the last quarter. Barclays PLC grew its holdings in shares of InMode by 113.5% during the third quarter. Barclays PLC now owns 169,630 shares of the healthcare company’s stock valued at $2,876,000 after buying an additional 90,173 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of InMode by 54.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,480 shares of the healthcare company’s stock valued at $2,127,000 after buying an additional 44,058 shares during the last quarter. State Street Corp grew its holdings in shares of InMode by 3.7% during the third quarter. State Street Corp now owns 2,044,640 shares of the healthcare company’s stock valued at $34,657,000 after buying an additional 73,183 shares during the last quarter. Finally, Unison Advisors LLC acquired a new position in shares of InMode during the third quarter valued at about $675,000. 68.04% of the stock is owned by 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.