Weiss Ratings Reiterates "Sell (D+)" Rating for InMode (NASDAQ:INMD)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D+)" rating for InMode (NASDAQ:INMD), indicating a negative outlook on the stock.
• Recent analyst ratings vary, with one Buy, eight Holds, and one Sell rating, while the consensus price target stands at $18.04.
• InMode's recent earnings report showed a $0.47 EPS, missing estimates, and the company’s revenue increased by 10.6% year-over-year, totaling $95.60 million for the quarter.

InMode (NASDAQ:INMD - Get Free Report)'s stock had its "sell (d+)" rating reiterated by investment analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity Group reissued a "hold" rating and issued a $15.00 price objective on shares of InMode in a research note on Friday, July 11th. Barclays reduced 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, July 30th. Zacks Research raised InMode from a "strong sell" rating to a "hold" rating in a research note on Monday, September 29th. Finally, Needham & Company LLC reissued a "hold" rating on shares of InMode in a research note on Wednesday, July 30th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $18.04.

InMode Stock Performance

Shares of INMD opened at $15.05 on Wednesday. InMode has a 52-week low of $13.14 and a 52-week high of $19.85. The business's 50 day moving average price is $14.69 and its two-hundred day moving average price is $14.82. The firm has a market cap of $951.30 million, a PE ratio of 6.09 and a beta of 2.09.

InMode (NASDAQ:INMD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The healthcare company reported $0.47 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $98.45 million. During the same period last year, the business posted $0.34 EPS. The company's revenue was up 10.6% on a year-over-year basis. Research analysts predict that InMode will post 1.75 EPS for the current fiscal year.

Institutional Investors Weigh In On InMode

Several large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in InMode by 63.1% in the 2nd quarter. Parallel Advisors LLC now owns 1,973 shares of the healthcare company's stock worth $28,000 after acquiring an additional 763 shares during the last quarter. American Century Companies Inc. boosted its holdings in InMode by 6.1% in the 1st quarter. American Century Companies Inc. now owns 18,994 shares of the healthcare company's stock worth $337,000 after buying an additional 1,087 shares during the period. CWM LLC boosted its holdings in InMode by 106.4% in the 1st quarter. CWM LLC now owns 2,369 shares of the healthcare company's stock worth $42,000 after buying an additional 1,221 shares during the period. Aviva PLC boosted its holdings in InMode by 3.9% in the 2nd quarter. Aviva PLC now owns 33,264 shares of the healthcare company's stock worth $480,000 after buying an additional 1,263 shares during the period. Finally, Cary Street Partners Financial LLC boosted its holdings in InMode by 1.0% in the 1st quarter. Cary Street Partners Financial LLC now owns 133,867 shares of the healthcare company's stock worth $2,375,000 after buying an additional 1,315 shares during the period. Hedge funds and other institutional investors own 68.04% of the company's stock.

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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