InMode's (INMD) Hold Rating Reaffirmed at Canaccord Genuity Group

InMode (NASDAQ:INMD - Get Free Report)'s stock had its "hold" rating reissued by research analysts at Canaccord Genuity Group in a report released on Friday,Benzinga reports. They currently have a $15.00 price objective on the healthcare company's stock. Canaccord Genuity Group's target price indicates a potential upside of 1.97% from the company's previous close.

Several other research firms have also weighed in on INMD. Barclays decreased their target price on shares of InMode from $29.00 to $24.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. UBS Group lowered their price objective on shares of InMode from $19.00 to $16.25 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. BTIG Research cut shares of InMode from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 29th. Baird R W lowered shares of InMode from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Finally, Robert W. Baird lowered shares of InMode from an "outperform" rating to a "neutral" rating and reduced their price objective for the company from $22.00 to $16.00 in a report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $18.54.

InMode Price Performance

NASDAQ INMD traded down $0.47 during trading hours on Friday, hitting $14.71. 971,126 shares of the company's stock traded hands, compared to its average volume of 1,211,136. InMode has a 52-week low of $13.14 and a 52-week high of $19.85. The company has a market capitalization of $929.82 million, a PE ratio of 6.31 and a beta of 1.95. The firm's 50-day moving average is $14.39 and its 200-day moving average is $16.23.

InMode (NASDAQ:INMD - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The healthcare company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.14). InMode had a net margin of 44.79% and a return on equity of 17.17%. The business had revenue of $77.87 million for the quarter, compared to analysts' expectations of $82.21 million. During the same period in the prior year, the company posted $0.32 EPS. The firm's revenue was down 3.0% on a year-over-year basis. Equities research analysts predict that InMode will post 1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On InMode

Institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted 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 purchasing an additional 763 shares during the period. CWM LLC lifted its stake in shares of InMode by 106.4% in the first quarter. CWM LLC now owns 2,369 shares of the healthcare company's stock valued at $42,000 after purchasing an additional 1,221 shares during the period. Orion Capital Management LLC acquired a new stake in shares of InMode in the fourth quarter valued at about $65,000. Summit Securities Group LLC acquired a new stake in shares of InMode in the first quarter valued at about $70,000. Finally, Farther Finance Advisors LLC lifted its holdings 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 valued at $93,000 after purchasing an additional 1,154 shares in 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.