Needham & Company LLC Reaffirms "Hold" Rating for InMode (NASDAQ:INMD)

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

Several other equities research analysts have also commented on the stock. Barclays lifted their price target on shares of InMode from $26.00 to $29.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. Jefferies Financial Group reduced their price objective on InMode from $16.00 to $15.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $21.25.

InMode Trading Down 12.0 %

INMD stock traded down $1.95 during trading on Monday, hitting $14.28. 2,505,495 shares of the company's stock were exchanged, compared to its average volume of 1,180,560. The stock has a market capitalization of $992.95 million, a price-to-earnings ratio of 6.09 and a beta of 1.96. InMode has a 52-week low of $13.68 and a 52-week high of $19.85. The business has a 50-day moving average price of $17.36 and a two-hundred day moving average price of $17.65.

Hedge Funds Weigh In On InMode

Hedge funds and other institutional investors have recently bought and sold shares of the company. Marathon Asset Management Ltd increased its stake in shares of InMode by 2.7% during the first quarter. Marathon Asset Management Ltd now owns 187,259 shares of the healthcare company's stock worth $3,322,000 after acquiring an additional 4,910 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of InMode in the 1st quarter valued at approximately $192,000. Bessemer Group Inc. purchased a new stake in shares of InMode in the first quarter valued at approximately $617,000. Kirr Marbach & Co. LLC IN grew its holdings in InMode by 9.4% during the first quarter. Kirr Marbach & Co. LLC IN now owns 88,625 shares of the healthcare company's stock worth $1,572,000 after acquiring an additional 7,601 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in InMode in the first quarter valued at $204,000. 68.04% of the stock is currently owned by hedge funds and other 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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