Wall Street Zen Upgrades InMode (NASDAQ:INMD) to Buy

Key Points

• Wall Street Zen upgraded InMode (NASDAQ: INMD) from a "hold" rating to a "buy" rating, indicating increased confidence in the stock's performance.
• Despite the upgrade, other analysts maintain a mixed outlook, with one buy rating, eight hold ratings, and one sell rating given to the stock.
• InMode reported a quarterly EPS of $0.47, which was below the consensus estimate of $0.50, but showed a 10.6% revenue increase compared to the same quarter last year.

InMode (NASDAQ:INMD - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Other equities analysts have also issued research reports about the company. Weiss Ratings reiterated a "sell (d+)" rating on shares of InMode in a research report on Wednesday, October 8th. Canaccord Genuity Group increased their price target on InMode from $14.00 to $16.00 and gave the company a "hold" rating in a research report on Friday, October 10th. Needham & Company LLC reiterated a "hold" rating on shares of InMode in a research report on Friday, October 10th. Zacks Research upgraded InMode from a "strong sell" rating to a "hold" rating in a research report on Monday, September 29th. Finally, Barclays decreased their price target on InMode from $24.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $16.85.

InMode Stock Up 0.6%

Shares of INMD stock opened at $15.31 on Friday. The stock has a 50-day simple moving average of $14.89 and a 200 day simple moving average of $14.68. InMode has a fifty-two week low of $13.14 and a fifty-two week high of $19.85. The stock has a market capitalization of $967.75 million, a P/E ratio of 6.20 and a beta of 2.09.

InMode (NASDAQ:INMD - Get Free Report) last announced its 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). InMode had a net margin of 44.50% and a return on equity of 18.38%. The firm had revenue of $95.60 million for the quarter, compared to the consensus estimate of $98.45 million. During the same period in the prior year, the business earned $0.34 EPS. The company's quarterly revenue was up 10.6% compared to the same quarter last year. On average, sell-side analysts anticipate that InMode will post 1.75 earnings per share for the current year.

Institutional Investors Weigh In On InMode

Several hedge funds have recently bought and sold shares of the business. Blue Trust Inc. lifted its stake in InMode by 93.7% in the 3rd quarter. Blue Trust Inc. now owns 2,861 shares of the healthcare company's stock worth $43,000 after acquiring an additional 1,384 shares in the last quarter. Inspire Investing LLC lifted its stake in InMode by 27.5% in the 3rd quarter. Inspire Investing LLC now owns 16,338 shares of the healthcare company's stock worth $243,000 after acquiring an additional 3,523 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of InMode by 92.9% during the 2nd quarter. Squarepoint Ops LLC now owns 143,758 shares of the healthcare company's stock worth $2,076,000 after purchasing an additional 69,239 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of InMode during the 2nd quarter worth about $253,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of InMode by 810.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 59,631 shares of the healthcare company's stock worth $861,000 after purchasing an additional 53,081 shares in the last quarter. 68.04% of the stock is owned by hedge funds and other 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.

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