InMode (NASDAQ:INMD) Receives "Hold" Rating from Canaccord Genuity Group

InMode (NASDAQ:INMD - Get Free Report)'s stock had its "hold" rating reiterated by stock analysts at Canaccord Genuity Group in a report issued on Friday,Benzinga reports. They presently have a $15.00 price objective on the healthcare company's stock. Canaccord Genuity Group's price target would suggest a potential upside of 1.76% from the stock's current price.

INMD has been the topic of a number of other reports. Needham & Company LLC reaffirmed a "hold" rating on shares of InMode in a report on Monday, April 28th. Barclays dropped their price objective on InMode from $29.00 to $24.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Baird R W downgraded InMode from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Robert W. Baird lowered InMode from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from $22.00 to $16.00 in a report on Monday, April 28th. Finally, Jefferies Financial Group dropped their price target on InMode from $16.00 to $15.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, InMode presently has a consensus rating of "Hold" and an average target price of $18.54.

InMode Stock Performance

NASDAQ INMD traded up $0.03 during trading hours on Friday, hitting $14.74. 1,194,589 shares of the company traded hands, compared to its average volume of 1,206,438. The business's 50-day moving average is $14.40 and its 200-day moving average is $16.20. The stock has a market capitalization of $931.70 million, a price-to-earnings ratio of 6.33 and a beta of 1.95. InMode has a twelve month low of $13.14 and a twelve month high of $19.85.

InMode (NASDAQ:INMD - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The healthcare company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.14). The company had revenue of $77.87 million during the quarter, compared to analyst estimates of $82.21 million. InMode had a net margin of 44.79% and a return on equity of 17.17%. The company's quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. Analysts predict that InMode will post 1.75 EPS for the current year.

Institutional Trading of InMode

Several hedge funds have recently added to or reduced their stakes in INMD. Parallel Advisors LLC boosted its stake in shares of InMode by 63.1% in the second quarter. Parallel Advisors LLC now owns 1,973 shares of the healthcare company's stock valued at $28,000 after buying an additional 763 shares during the period. CWM LLC raised its holdings in InMode by 106.4% in the 1st quarter. CWM LLC now owns 2,369 shares of the healthcare company's stock valued at $42,000 after acquiring an additional 1,221 shares in the last quarter. Orion Capital Management LLC bought a new stake in shares of InMode during the 4th quarter valued at $65,000. Summit Securities Group LLC acquired a new stake in shares of InMode during the 1st quarter worth $70,000. Finally, Farther Finance Advisors LLC increased its position in shares of InMode by 26.2% in the fourth quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company's stock worth $93,000 after purchasing an additional 1,154 shares during the period. 68.04% of the stock is owned by institutional investors and hedge funds.

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.