InMode Ltd. (NASDAQ:INMD) Receives Consensus Rating of "Hold" from Analysts

Shares of InMode Ltd. (NASDAQ:INMD - Get Free Report) have received an average rating of "Hold" from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $18.54.

Several equities research analysts have commented on INMD shares. Jefferies Financial Group lowered their price target on shares of InMode from $16.00 to $15.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Robert W. Baird cut InMode from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $22.00 to $16.00 in a research report on Monday, April 28th. Baird R W lowered InMode from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Canaccord Genuity Group dropped their price objective on shares of InMode from $17.00 to $15.00 and set a "hold" rating on the stock in a research note on Tuesday, April 29th. Finally, Barclays decreased their target price on shares of InMode from $29.00 to $24.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th.

InMode Stock Down 0.5%

Shares of NASDAQ:INMD traded down $0.07 during trading on Tuesday, hitting $13.27. The stock had a trading volume of 601,105 shares, compared to its average volume of 1,224,220. InMode has a 12-month low of $13.16 and a 12-month high of $19.85. The stock has a market capitalization of $838.99 million, a price-to-earnings ratio of 5.70 and a beta of 1.98. The stock has a 50-day simple moving average of $14.54 and a two-hundred day simple moving average of $16.60.

InMode (NASDAQ:INMD - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The healthcare company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.14). The business had revenue of $77.87 million for the quarter, compared to analysts' expectations of $82.21 million. InMode had a return on equity of 17.17% and a net margin of 44.79%. The business's quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 earnings per share. As a group, sell-side analysts forecast that InMode will post 1.75 earnings per share for the current year.

Hedge Funds Weigh In On InMode

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its stake in shares of InMode by 234.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company's stock worth $19,935,000 after purchasing an additional 788,157 shares in the last quarter. River Road Asset Management LLC purchased a new stake in InMode during the 4th quarter worth approximately $8,572,000. DDD Partners LLC raised its holdings in shares of InMode by 63.1% during the first quarter. DDD Partners LLC now owns 989,903 shares of the healthcare company's stock valued at $17,561,000 after acquiring an additional 382,938 shares during the last quarter. LSV Asset Management raised its holdings in shares of InMode by 17.2% during the first quarter. LSV Asset Management now owns 2,010,367 shares of the healthcare company's stock valued at $35,664,000 after acquiring an additional 295,296 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of InMode in the first quarter valued at approximately $4,444,000. 68.04% of the stock is currently owned by institutional investors and hedge funds.

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.