InMode Ltd. (NASDAQ:INMD) Stock Has Average Target Price of $16.00 According to Brokerages

Key Points

• InMode has a consensus “Hold” rating from seven analysts, with five holds, one sell and one buy; the average 12-month price target is $16.00 versus a recent share price of $14.09.
• Institutional investors own 68.04% of the company’s stock, while several funds increased or initiated positions during the second quarter.
• InMode’s latest quarterly results met expectations, with EPS of $0.35 and revenue of $95.59 million, slightly ahead of the $94.89 million consensus revenue estimate.

Shares of InMode Ltd. (NASDAQ:INMD - Get Free Report) have received a consensus rating of "Hold" from the seven research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $16.00.

Separately, Weiss Ratings restated a "sell (d+)" rating on shares of InMode in a report on Thursday, August 6th.

Institutional Trading of InMode

Several institutional investors and hedge funds have recently made changes to their positions in INMD. Tidal Investments LLC lifted its stake in shares of InMode by 51.7% in the 2nd quarter. Tidal Investments LLC now owns 88,423 shares of the healthcare company's stock valued at $1,293,000 after purchasing an additional 30,145 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of InMode during the second quarter worth $677,000. IFP Advisors Inc acquired a new stake in shares of InMode during the second quarter worth $31,000. Plan A Wealth LLC grew its stake in shares of InMode by 20.3% during the second quarter. Plan A Wealth LLC now owns 17,720 shares of the healthcare company's stock worth $259,000 after purchasing an additional 2,991 shares during the period. Finally, NINE MASTS CAPITAL Ltd bought a new stake in InMode in the second quarter valued at about $439,000. Institutional investors own 68.04% of the company's stock.

InMode Stock Performance

Shares of NASDAQ:INMD opened at $14.09 on Monday. The stock has a market capitalization of $809.89 million, a P/E ratio of 11.46 and a beta of 2.03. InMode has a 1-year low of $12.72 and a 1-year high of $16.74. The business has a 50-day moving average price of $14.85 and a two-hundred day moving average price of $14.37.

InMode (NASDAQ:INMD - Get Free Report) last released its earnings results on Wednesday, August 5th. The healthcare company reported $0.35 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.35. The company had revenue of $95.59 million for the quarter, compared to the consensus estimate of $94.89 million. InMode had a net margin of 20.69% and a return on equity of 11.99%. The company's revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 EPS.

InMode Company Profile

InMode Ltd. is an Israel-based medical technology company that develops, manufactures and markets energy-based platforms for aesthetic and medical treatments. Its technologies are designed to support minimally invasive and noninvasive procedures in areas such as skin rejuvenation, facial and body contouring, hair removal, intimate health and other soft-tissue applications.

The company's product portfolio includes radiofrequency and other energy-based systems sold under brands such as Morpheus8, BodyTite, FaceTite, Forma and Lumecca.

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