InMode (NASDAQ:INMD) Given "Hold" Rating at Needham & Company LLC

Key Points

• Needham & Company LLC has restated a **"hold" rating** for InMode (NASDAQ:INMD) as part of a series of mixed ratings from various analysts, with a consensus rating of **"hold"** and an average target price of **$18.04**.
• InMode's stock has seen a recent **5.6% increase**, currently priced at **$15.89**, but the company's earnings report showed a miss on expected earnings per share (EPS) at **$0.47**, falling short of the **$0.50** consensus.
• Institutional investors hold **68.04%** of InMode's stock, with notable increases in holdings from firms like LSV Asset Management and Goldman Sachs Group, reflecting significant investor interest in the company.

InMode (NASDAQ:INMD - Get Free Report)'s stock had its "hold" rating restated by investment analysts at Needham & Company LLC in a report issued on Friday,Benzinga reports.

INMD has been the subject of a number of other research reports. Weiss Ratings reiterated a "sell (d+)" rating on shares of InMode in a research report on Wednesday. Zacks Research upgraded shares of InMode from a "strong sell" rating to a "hold" rating in a research note on Monday, September 29th. Canaccord Genuity Group restated a "hold" rating and set a $15.00 price target on shares of InMode in a research note on Friday, July 11th. Finally, Barclays dropped their price target on shares of InMode from $24.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, InMode currently has a consensus rating of "Hold" and an average target price of $18.04.

InMode Stock Up 5.6%

INMD stock opened at $15.89 on Friday. InMode has a 12-month low of $13.14 and a 12-month high of $19.85. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 6.43 and a beta of 2.09. The company has a 50 day moving average of $14.74 and a two-hundred day moving average of $14.79.

InMode (NASDAQ:INMD - Get Free Report) last released its 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). InMode had a return on equity of 18.38% and a net margin of 44.50%.The company had revenue of $95.60 million during the quarter, compared to analysts' expectations of $98.45 million. During the same quarter in the previous year, the company earned $0.34 EPS. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. On average, research analysts anticipate that InMode will post 1.75 EPS for the current year.

Institutional Trading of InMode

Several large investors have recently modified their holdings of the company. LSV Asset Management boosted its holdings in shares of 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 period. Goldman Sachs Group Inc. boosted its holdings in shares of InMode by 234.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company's stock worth $19,935,000 after buying an additional 788,157 shares during the period. Systematic Financial Management LP boosted its holdings in shares of InMode by 3.9% during the 2nd quarter. Systematic Financial Management LP now owns 1,090,971 shares of the healthcare company's stock worth $15,754,000 after buying an additional 41,363 shares during the period. DDD Partners LLC boosted its holdings 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 worth $17,561,000 after buying an additional 382,938 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of InMode by 142.1% during the 2nd quarter. Bank of America Corp DE now owns 862,209 shares of the healthcare company's stock worth $12,450,000 after buying an additional 506,134 shares during the period. 68.04% of the stock is owned by 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.

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