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

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

INMD has been the topic of several recent research reports. Barclays decreased 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. Baird R W downgraded InMode from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Robert W. Baird cut InMode from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $22.00 to $16.00 in a report on Monday, April 28th. Canaccord Genuity Group reissued a "hold" rating and issued a $15.00 price target on shares of InMode in a research note on Friday. Finally, UBS Group cut their price target on InMode from $19.00 to $16.25 and set a "neutral" rating on the stock in a report on Tuesday, April 29th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its position in InMode by 234.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company's stock valued at $19,935,000 after purchasing an additional 788,157 shares in the last quarter. DDD Partners LLC increased its position in shares of 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 purchasing an additional 382,938 shares during the last quarter. LSV Asset Management grew its position in InMode by 17.2% in the 1st 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. Nuveen LLC bought a new position in InMode in the 1st quarter valued at $4,444,000. Finally, Fred Alger Management LLC lifted its holdings in shares of InMode by 75.7% in the 1st quarter. Fred Alger Management LLC now owns 543,750 shares of the healthcare company's stock worth $9,646,000 after buying an additional 234,285 shares during the period. Institutional investors own 68.04% of the company's stock.

InMode Stock Down 3.1%

Shares of INMD traded down $0.45 during trading hours on Friday, reaching $14.29. The company's stock had a trading volume of 587,158 shares, compared to its average volume of 1,204,739. The firm has a market cap of $903.00 million, a price-to-earnings ratio of 6.13 and a beta of 1.95. InMode has a 1-year low of $13.14 and a 1-year high of $19.85. The company has a 50 day moving average of $14.41 and a two-hundred day moving average of $16.19.

InMode (NASDAQ:INMD - Get Free Report) last announced its 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 company had revenue of $77.87 million for the quarter, compared to the consensus estimate of $82.21 million. InMode had a return on equity of 17.17% and a net margin of 44.79%. The firm's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 EPS. As a group, analysts forecast that InMode will post 1.75 EPS for the current fiscal year.

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.