InMode's (INMD) "Hold" Rating Reiterated at Needham & Company LLC

Key Points

• Needham & Company LLC has reiterated a "hold" rating for InMode (NASDAQ:INMD), while several other brokerages have also adjusted their ratings and price targets for the stock, with UBS Group lowering its price objective to $16.25.
• InMode reported a quarterly earnings miss with $0.47 EPS, which was below analysts' consensus estimate of $0.50, and a revenue of $95.60 million, falling short of expectations.
• The company's stock is currently trading at $14.07, with a 1-year low of $13.14 and a high of $19.85, showing recent trading activity amidst varied analyst recommendations.

Needham & Company LLC reiterated their hold rating on shares of InMode (NASDAQ:INMD - Free Report) in a research note issued to investors on Wednesday,Benzinga reports.

A number of other research analysts have also commented on the company. Robert W. Baird lowered InMode from an "outperform" rating to a "neutral" rating and cut their target price for the company from $22.00 to $16.00 in a research note on Monday, April 28th. UBS Group dropped their price objective on InMode from $19.00 to $16.25 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Canaccord Genuity Group reiterated a "hold" rating and set a $15.00 price objective on shares of InMode in a research note on Friday, July 11th. Barclays dropped their price objective on InMode from $24.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group dropped 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. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $18.04.

InMode Price Performance

Shares of NASDAQ INMD traded up $0.08 during trading hours on Wednesday, reaching $13.74. The stock had a trading volume of 1,726,589 shares, compared to its average volume of 1,019,427. The business's fifty day moving average is $14.33 and its two-hundred day moving average is $15.97. The company has a market cap of $868.49 million, a price-to-earnings ratio of 5.56 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 issued its earnings results on Wednesday, July 30th. The healthcare company reported $0.47 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.03). The firm had revenue of $95.60 million during the quarter, compared to analyst estimates of $98.45 million. InMode had a net margin of 44.50% and a return on equity of 18.38%. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 earnings per share. Sell-side analysts forecast that InMode will post 1.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in INMD. Raymond James Financial Inc. bought a new position in shares of InMode in the fourth quarter valued at about $1,332,000. HighTower Advisors LLC bought a new position in shares of InMode in the fourth quarter valued at about $180,000. Thrivent Financial for Lutherans raised its holdings in shares of InMode by 6.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,586 shares of the healthcare company's stock valued at $210,000 after buying an additional 721 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of InMode in the fourth quarter valued at about $306,000. Finally, American Century Companies Inc. bought a new position in shares of InMode in the fourth quarter valued at about $299,000. 68.04% of the stock is owned by institutional investors.

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.