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

Key Points

• InMode Ltd. currently holds a consensus rating of "Hold" from eight analysts, with seven recommending a hold and one a buy, while the average 12-month price target is approximately $18.04.
• The company's recent quarterly earnings report showed earnings per share of $0.47, missing the consensus estimate, and revenues of $95.60 million, which were below expectations.
• Institutional investors own 68.04% of InMode's stock, with several investing firms significantly increasing their positions in the past quarters.

InMode Ltd. (NASDAQ:INMD - Get Free Report) has earned a consensus recommendation of "Hold" from the eight ratings firms that are currently covering the company, 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 12 month target price among brokerages that have issued a report on the stock in the last year is $18.0417.

Several equities research analysts have recently weighed in on INMD shares. Barclays reduced their price objective on InMode from $24.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Baird R W lowered InMode from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Jefferies Financial Group reduced their price objective on InMode from $16.00 to $15.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Canaccord Genuity Group reiterated a "hold" rating and set a $15.00 price target on shares of InMode in a report on Friday, July 11th. Finally, Needham & Company LLC reissued a "hold" rating on shares of InMode in a research note on Wednesday, July 30th.

Institutional Investors Weigh In On InMode

A number of hedge funds and other institutional investors have recently made changes to their positions in INMD. Raymond James Financial Inc. bought a new position in InMode during the fourth quarter valued at approximately $1,332,000. Allspring Global Investments Holdings LLC bought a new position in shares of InMode during the 1st quarter worth about $192,000. Handelsbanken Fonder AB increased its holdings in shares of InMode by 34.3% during the 1st quarter. Handelsbanken Fonder AB now owns 36,400 shares of the healthcare company's stock worth $646,000 after purchasing an additional 9,300 shares during the period. Bessemer Group Inc. bought a new position in shares of InMode during the 1st quarter worth about $617,000. Finally, GAMMA Investing LLC boosted 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 acquiring an additional 2,924 shares in the last quarter. 68.04% of the stock is owned by hedge funds and other institutional investors.

InMode Price Performance

Shares of INMD traded down $0.26 during trading hours on Wednesday, hitting $14.11. 770,941 shares of the company were exchanged, compared to its average volume of 1,153,551. The company has a market capitalization of $891.89 million, a PE ratio of 5.71 and a beta of 1.93. The firm has a fifty day simple moving average of $14.29 and a 200-day simple moving average of $15.88. InMode has a one year low of $13.14 and a one year high of $19.85.

InMode (NASDAQ:INMD - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The healthcare company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $95.60 million for the quarter, compared to the consensus estimate of $98.45 million. InMode had a return on equity of 18.38% and a net margin of 44.50%. The business's revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 earnings per share. Sell-side analysts expect that InMode will post 1.75 EPS for the current 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.