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 released on Wednesday,Benzinga reports.

Several other equities analysts have also recently commented on INMD. UBS Group reduced their target price on InMode from $19.00 to $16.25 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Baird R W cut InMode from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Canaccord Genuity Group restated a "hold" rating and set a $15.00 target price on shares of InMode in a research report on Friday, July 11th. Barclays reduced their target price on InMode from $24.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group reduced their target price on InMode from $16.00 to $15.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $18.04.

InMode Trading Up 0.6%

Shares of NASDAQ INMD traded up $0.08 during mid-day trading on Wednesday, hitting $13.74. The company had a trading volume of 1,726,589 shares, compared to its average volume of 1,019,427. The company has a market capitalization of $868.51 million, a price-to-earnings ratio of 5.56 and a beta of 1.93. InMode has a 1 year low of $13.14 and a 1 year high of $19.85. The stock's 50-day moving average price is $14.33 and its 200-day moving average price is $15.96.

InMode (NASDAQ:INMD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The healthcare company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $95.60 million during the quarter, compared to analysts' expectations of $98.45 million. InMode had a net margin of 44.50% and a return on equity of 18.38%. InMode's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share. As a group, equities research analysts forecast that InMode will post 1.75 earnings per share for the current year.

Institutional Investors Weigh In On InMode

Several hedge funds have recently added to or reduced their stakes in INMD. Raymond James Financial Inc. bought a new stake in InMode during the fourth quarter worth about $1,332,000. HighTower Advisors LLC bought a new stake in InMode during the fourth quarter worth about $180,000. Thrivent Financial for Lutherans lifted its stake in InMode by 6.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 12,586 shares of the healthcare company's stock worth $210,000 after purchasing an additional 721 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of InMode in the 4th quarter valued at about $306,000. Finally, American Century Companies Inc. bought a new stake in shares of InMode in the 4th quarter valued at about $299,000. Institutional investors 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.