InMode Ltd. (NASDAQ:INMD) Given Average Rating of "Hold" by Analysts

Key Points

• InMode Ltd. has received an average analyst rating of "Hold", with seven analysts recommending holding the stock and one suggesting a buy, alongside a consensus target price of $18.04.
• The company's recent earnings report showed earnings per share of $0.47, which missed analysts' expectations by $0.03, but revenue increased by 10.6% year-over-year to $95.60 million.
• Institutional investors have significantly increased their stakes in InMode, with notable increases by Goldman Sachs and Bank of America, resulting in 68.04% of the stock being owned by hedge funds and other institutional investors.

Shares of InMode Ltd. (NASDAQ:INMD - Get Free Report) have earned a consensus recommendation of "Hold" from the eight brokerages that are covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $18.0417.

A number of equities analysts recently weighed in on INMD shares. Canaccord Genuity Group restated a "hold" rating and issued a $15.00 price objective on shares of InMode in a report on Friday, July 11th. Needham & Company LLC restated a "hold" rating on shares of InMode in a report on Wednesday, July 30th. Finally, Barclays decreased their target price on shares of InMode from $24.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th.

InMode Stock Up 0.1%

Shares of NASDAQ INMD opened at $14.94 on Friday. InMode has a twelve month low of $13.14 and a twelve month high of $19.85. The firm has a market cap of $944.36 million, a P/E ratio of 6.05 and a beta of 1.93. The company has a 50 day moving average of $14.44 and a 200 day moving average of $15.54.

InMode (NASDAQ:INMD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The healthcare company reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.03). InMode had a return on equity of 18.38% and a net margin of 44.50%.The firm had revenue of $95.60 million during the quarter, compared to analysts' expectations of $98.45 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. InMode's revenue was up 10.6% on a year-over-year basis. As a group, equities analysts expect that InMode will post 1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On InMode

A number of hedge funds have recently added to or reduced their stakes in INMD. Goldman Sachs Group Inc. raised its stake in InMode by 234.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company's stock valued at $19,935,000 after buying an additional 788,157 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in InMode during the 2nd quarter valued at $8,294,000. Bank of America Corp DE raised its stake in InMode by 142.1% during the 2nd quarter. Bank of America Corp DE now owns 862,209 shares of the healthcare company's stock valued at $12,450,000 after buying an additional 506,134 shares during the last quarter. Marshall Wace LLP raised its stake in InMode by 270.7% during the 2nd quarter. Marshall Wace LLP now owns 555,573 shares of the healthcare company's stock valued at $8,022,000 after buying an additional 405,707 shares during the last quarter. Finally, DDD Partners LLC raised its stake in InMode by 63.1% during the 1st quarter. DDD Partners LLC now owns 989,903 shares of the healthcare company's stock valued at $17,561,000 after buying an additional 382,938 shares during the last quarter. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

About InMode

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.

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