InMode Ltd. (NASDAQ:INMD) Receives $18.04 Average PT from 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.

Shares of InMode Ltd. (NASDAQ:INMD - Get Free Report) have been given an average rating of "Hold" by the eight analysts that are covering the company, Marketbeat Ratings 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 twelve-month price target among analysts that have issued a report on the stock in the last year is $18.0417.

INMD has been the topic of several research analyst reports. Canaccord Genuity Group reiterated a "hold" rating and issued a $15.00 price objective on shares of InMode in a report on Friday, July 11th. Baird R W lowered shares of InMode from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Jefferies Financial Group decreased their price target on shares of InMode from $16.00 to $15.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Robert W. Baird downgraded 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, Barclays lowered their price objective on InMode from $24.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th.

Hedge Funds Weigh In On InMode

Several hedge funds have recently added to or reduced their stakes in INMD. Goldman Sachs Group Inc. increased its position 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. DDD Partners LLC grew its stake in InMode by 63.1% during the 1st quarter. DDD Partners LLC now owns 989,903 shares of the healthcare company's stock worth $17,561,000 after buying an additional 382,938 shares during the last quarter. LSV Asset Management grew its stake in InMode by 17.2% during the 1st quarter. LSV Asset Management now owns 2,010,367 shares of the healthcare company's stock worth $35,664,000 after buying an additional 295,296 shares during the last quarter. Lind Value II ApS acquired a new position in InMode during the second quarter worth approximately $3,930,000. Finally, Virtus Family Office LLC acquired a new position in InMode during the second quarter worth approximately $3,726,000. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

InMode Stock Performance

Shares of NASDAQ INMD traded down $0.26 during mid-day trading on Wednesday, reaching $14.11. 770,935 shares of the company's stock were exchanged, compared to its average volume of 1,294,860. The firm has a market capitalization of $891.88 million, a price-to-earnings ratio of 5.71 and a beta of 1.93. InMode has a 52-week low of $13.14 and a 52-week high of $19.85. The company's 50-day moving average is $14.30 and its 200-day moving average is $15.90.

InMode (NASDAQ:INMD - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The healthcare company reported $0.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.03). The company had revenue of $95.60 million during the quarter, compared to analysts' expectations of $98.45 million. InMode had a net margin of 44.50% and a return on equity of 18.38%. InMode's revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm posted $0.34 earnings per share. As a group, equities analysts predict that InMode will post 1.75 earnings per share 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.