InMode (NASDAQ:INMD) Stock Rating Reaffirmed by Needham & Company LLC

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

A number of other brokerages also recently commented on INMD. Barclays reduced their price objective on InMode from $34.00 to $33.00 and set an "overweight" rating on the stock in a research report on Friday, April 12th. UBS Group lifted their price objective on InMode from $24.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $32.80.

InMode Stock Up 1.6 %

Shares of NASDAQ INMD traded up $0.28 during midday trading on Friday, hitting $17.64. The stock had a trading volume of 1,596,091 shares, compared to its average volume of 1,567,969. The company has a market capitalization of $1.48 billion, a PE ratio of 7.67 and a beta of 2.20. The stock has a 50 day simple moving average of $19.99 and a 200-day simple moving average of $21.37. InMode has a 1 year low of $16.72 and a 1 year high of $48.25.

InMode (NASDAQ:INMD - Get Free Report) last released its earnings results on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. InMode had a return on equity of 29.80% and a net margin of 40.22%. The business had revenue of $126.80 million for the quarter, compared to the consensus estimate of $124.77 million. During the same quarter last year, the business posted $0.69 earnings per share. The business's quarterly revenue was down 5.1% compared to the same quarter last year. As a group, analysts expect that InMode will post 2.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On InMode

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LSV Asset Management grew its stake in shares of InMode by 3,557.6% in the third quarter. LSV Asset Management now owns 1,678,819 shares of the healthcare company's stock valued at $51,137,000 after buying an additional 1,632,919 shares in the last quarter. Boston Trust Walden Corp acquired a new stake in shares of InMode in the fourth quarter valued at $32,366,000. Jennison Associates LLC acquired a new stake in shares of InMode in the fourth quarter valued at $15,101,000. Meitav Investment House Ltd. grew its stake in shares of InMode by 58.2% in the third quarter. Meitav Investment House Ltd. now owns 1,589,027 shares of the healthcare company's stock valued at $49,448,000 after buying an additional 584,655 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of InMode by 5,512.7% in the fourth quarter. Federated Hermes Inc. now owns 582,434 shares of the healthcare company's stock valued at $12,953,000 after buying an additional 572,057 shares in the last quarter. Institutional investors and hedge funds own 68.04% of the company's stock.

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.