Brokerages Set InMode Ltd. (NASDAQ:INMD) Price Target at $18.54

Shares of InMode Ltd. (NASDAQ:INMD - Get Free Report) have been given a consensus recommendation of "Hold" by the eight ratings firms that are presently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $18.54.

Several research analysts have recently commented on the company. Barclays reduced their price target on InMode from $29.00 to $24.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Canaccord Genuity Group reduced their price objective on shares of InMode from $17.00 to $15.00 and set a "hold" rating on the stock in a report on Tuesday, April 29th. Jefferies Financial Group reduced their price objective 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. BTIG Research lowered shares of InMode from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. Finally, Needham & Company LLC restated a "hold" rating on shares of InMode in a report on Monday, April 28th.

InMode Stock Down 0.2%

Shares of NASDAQ INMD traded down $0.03 during trading on Tuesday, hitting $13.34. The company had a trading volume of 1,078,192 shares, compared to its average volume of 1,190,252. The stock has a fifty day simple moving average of $14.60 and a two-hundred day simple moving average of $16.66. InMode has a fifty-two week low of $13.16 and a fifty-two week high of $19.85. The firm has a market capitalization of $843.22 million, a price-to-earnings ratio of 8.52 and a beta of 1.98.

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

Hedge Funds Weigh In On InMode

Hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC lifted its position in shares of InMode by 106.4% during the first quarter. CWM LLC now owns 2,369 shares of the healthcare company's stock worth $42,000 after purchasing an additional 1,221 shares in the last quarter. Orion Capital Management LLC acquired a new stake in shares of InMode during the fourth quarter worth about $65,000. Summit Securities Group LLC acquired a new stake in shares of InMode during the first quarter worth about $70,000. SBI Securities Co. Ltd. acquired a new stake in shares of InMode during the fourth quarter worth about $87,000. Finally, Farther Finance Advisors LLC lifted its position in shares of InMode by 26.2% during the fourth quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company's stock worth $93,000 after purchasing an additional 1,154 shares in 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.