InMode (NASDAQ:INMD) Upgraded at Zacks Research

Key Points

• InMode was upgraded from a "strong sell" to a "hold" rating by Zacks Research, reflecting a shift in market sentiment towards the company.
• The company reported $0.47 earnings per share for its last quarter, which missed analysts' expectations of $0.50 per share, but showed a year-over-year revenue increase of 10.6%.
• Institutional investors have increased their stakes in InMode, with Parallel Advisors boosting their holdings by 63.1% in the second quarter.

InMode (NASDAQ:INMD - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

A number of other equities analysts also recently issued reports on INMD. Canaccord Genuity Group reissued a "hold" rating and issued a $15.00 price target on shares of InMode in a research note on Friday, July 11th. Needham & Company LLC reaffirmed a "hold" rating on shares of InMode in a research note on Wednesday, July 30th. Finally, Barclays decreased their target price on shares of InMode from $24.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $18.04.

InMode Price Performance

INMD stock opened at $14.90 on Monday. InMode has a 1 year low of $13.14 and a 1 year high of $19.85. The company has a market cap of $941.83 million, a P/E ratio of 6.03 and a beta of 2.00. The firm has a 50-day moving average of $14.61 and a 200 day moving average of $14.93.

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). 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 the consensus estimate of $98.45 million. During the same period in the previous year, the company earned $0.34 earnings per share. InMode's quarterly revenue was up 10.6% on a year-over-year basis. On average, equities research analysts expect that InMode will post 1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On InMode

Institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC boosted its holdings in InMode by 63.1% in the second quarter. Parallel Advisors LLC now owns 1,973 shares of the healthcare company's stock worth $28,000 after purchasing an additional 763 shares during the last quarter. American Century Companies Inc. boosted its holdings in InMode by 6.1% in the first quarter. American Century Companies Inc. now owns 18,994 shares of the healthcare company's stock worth $337,000 after purchasing an additional 1,087 shares during the last quarter. CWM LLC boosted its holdings in InMode by 106.4% in the first quarter. CWM LLC now owns 2,369 shares of the healthcare company's stock worth $42,000 after purchasing an additional 1,221 shares during the last quarter. Aviva PLC boosted its holdings in InMode by 3.9% in the second quarter. Aviva PLC now owns 33,264 shares of the healthcare company's stock worth $480,000 after purchasing an additional 1,263 shares during the last quarter. Finally, Cary Street Partners Financial LLC boosted its holdings in InMode by 1.0% in the first quarter. Cary Street Partners Financial LLC now owns 133,867 shares of the healthcare company's stock worth $2,375,000 after purchasing an additional 1,315 shares during the last quarter. Hedge funds and other institutional investors own 68.04% of the company's stock.

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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