InMode (NASDAQ:INMD) Cut to Hold at Zacks Investment Research


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Zacks Investment Research downgraded shares of InMode (NASDAQ:INMD) from a strong-buy rating to a hold rating in a report published on Tuesday morning, Zacks.com reports.

According to Zacks, “InMode Ltd. is a provider of medical technologies. It develops, manufactures and markets devices harnessing novel radio-frequency technology. The company serves plastic surgery, gynecology, dermatology, otolaryngology and ophthalmology. InMode Ltd. is based in Yokneam, Israel. “

Several other research firms have also weighed in on INMD. Robert W. Baird boosted their price objective on shares of InMode from $58.00 to $84.00 and gave the stock an outperform rating in a research note on Thursday, February 11th. Canaccord Genuity boosted their price objective on shares of InMode from $69.00 to $80.00 and gave the stock a buy rating in a research note on Thursday, February 11th. Finally, UBS Group boosted their price objective on shares of InMode from $64.00 to $84.00 and gave the stock a buy rating in a research note on Thursday, February 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $73.00.

Shares of INMD stock opened at $87.31 on Tuesday. InMode has a 1 year low of $21.68 and a 1 year high of $88.59. The firm’s fifty day moving average price is $73.06 and its two-hundred day moving average price is $54.98. The firm has a market capitalization of $2.79 billion, a P/E ratio of 62.81 and a beta of 1.95.

InMode (NASDAQ:INMD) last released its quarterly earnings data on Wednesday, February 10th. The healthcare company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.39. The company had revenue of $75.20 million for the quarter, compared to analyst estimates of $70.77 million. InMode had a net margin of 32.57% and a return on equity of 28.56%. InMode’s revenue for the quarter was up 60.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 EPS. Equities analysts expect that InMode will post 1.48 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement Association of Colorado acquired a new position in InMode in the 4th quarter valued at approximately $62,000. Sterling Investment Advisors Ltd. acquired a new position in InMode in the 4th quarter valued at approximately $71,000. Steward Partners Investment Advisory LLC increased its position in InMode by 96.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,550 shares of the healthcare company’s stock valued at $121,000 after acquiring an additional 1,250 shares during the period. Citigroup Inc. acquired a new position in InMode in the 4th quarter valued at approximately $123,000. Finally, Marathon Asset Management LLP acquired a new position in InMode in the 4th quarter valued at approximately $184,000. Hedge funds and other institutional investors own 35.69% 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. 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.

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