Brokerages Set InMode Ltd. (NASDAQ:INMD) Target Price at $32.80

InMode Ltd. (NASDAQ:INMD) has been given a consensus rating of “Hold” by the six analysts that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $30.80.

A number of equities analysts have commented on the stock. Barclays dropped their price objective on shares of InMode from $33.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research note on Thursday, July 11th. Finally, Canaccord Genuity Group cut their price target on shares of InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 12th.

InMode Stock Down 4.2 %

Shares of NASDAQ:INMD opened at $17.94 on Friday. InMode has a 52 week low of $16.44 and a 52 week high of $48.25. The stock has a market capitalization of $1.51 billion, a P/E ratio of 8.50 and a beta of 2.18. The firm has a fifty day simple moving average of $18.24 and a two-hundred day simple moving average of $20.09.

InMode (NASDAQ:INMD) last issued its quarterly earnings data on Thursday, May 2nd. The healthcare company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. InMode had a net margin of 38.84% and a return on equity of 26.15%. The business had revenue of $80.28 million during the quarter, compared to analysts’ expectations of $80.10 million. On average, analysts expect that InMode will post 1.5 earnings per share for the current year.

Hedge Funds Weigh In On InMode

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in InMode in the 2nd quarter worth about $417,000. U.S. Capital Wealth Advisors LLC grew its stake in InMode by 16.6% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 120,285 shares of the healthcare company’s stock worth $2,194,000 after acquiring an additional 17,100 shares in the last quarter. Cetera Advisors LLC grew its stake in InMode by 8.9% in the 1st quarter. Cetera Advisors LLC now owns 17,028 shares of the healthcare company’s stock worth $368,000 after acquiring an additional 1,394 shares in the last quarter. Swedbank AB bought a new position in InMode in the 1st quarter worth about $17,634,000. Finally, EMC Capital Management bought a new position in InMode in the 1st quarter worth about $90,000. 68.04% of the stock is currently 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.