InMode Ltd. (NASDAQ:INMD) Receives Average Recommendation of "Hold" from Brokerages

Shares of InMode Ltd. (NASDAQ:INMD - Get Free Report) have been given a consensus recommendation of "Hold" by the eight ratings firms that are covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $18.54.

Several brokerages recently issued reports on INMD. BTIG Research cut InMode from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 29th. Jefferies Financial Group reduced their target price on shares of InMode from $16.00 to $15.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Baird R W downgraded shares of InMode from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Robert W. Baird cut shares of InMode from an "outperform" rating to a "neutral" rating and cut their price target for the stock from $22.00 to $16.00 in a report on Monday, April 28th. Finally, UBS Group decreased their price objective on shares of InMode from $19.00 to $16.25 and set a "neutral" rating for the company in a research note on Tuesday, April 29th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in shares of InMode in the 4th quarter worth approximately $1,332,000. Handelsbanken Fonder AB raised its stake in shares of InMode by 34.3% in the first quarter. Handelsbanken Fonder AB now owns 36,400 shares of the healthcare company's stock valued at $646,000 after buying an additional 9,300 shares during the period. Bessemer Group Inc. bought a new stake in shares of InMode in the first quarter valued at $617,000. GAMMA Investing LLC lifted its position in shares of InMode by 13,923.8% during the 1st quarter. GAMMA Investing LLC now owns 2,945 shares of the healthcare company's stock valued at $520,000 after buying an additional 2,924 shares during the last quarter. Finally, Townsquare Capital LLC grew its stake in shares of InMode by 43.2% during the 4th quarter. Townsquare Capital LLC now owns 17,029 shares of the healthcare company's stock worth $284,000 after acquiring an additional 5,137 shares during the period. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

InMode Stock Down 3.1%

Shares of INMD opened at $14.71 on Friday. The business's fifty day moving average is $14.40 and its 200 day moving average is $16.22. InMode has a 12-month low of $13.14 and a 12-month high of $19.85. The stock has a market cap of $929.82 million, a P/E ratio of 6.31 and a beta of 1.95.

InMode (NASDAQ:INMD - Get Free Report) last issued its quarterly earnings data 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). InMode had a net margin of 44.79% and a return on equity of 17.17%. The business had revenue of $77.87 million for the quarter, compared to analyst estimates of $82.21 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. The firm's quarterly revenue was down 3.0% compared to the same quarter last year. On average, analysts expect that InMode will post 1.75 EPS for the current year.

InMode Company Profile

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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