InMode Ltd. (NASDAQ:INMD) Stock Has Consensus Target Price of $16.00

Shares of InMode Ltd. (NASDAQ:INMD) have been assigned an average rating of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $16.00.

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of InMode in a research report on Thursday, August 6th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Covestor Ltd lifted its position in shares of InMode by 147.2% in the 3rd quarter. Covestor Ltd now owns 49,044 shares of the healthcare company’s stock worth $695,000 after buying an additional 29,204 shares during the last quarter. Signaturefd LLC raised its holdings in shares of InMode by 50.0% during the 3rd quarter. Signaturefd LLC now owns 12,014 shares of the healthcare company’s stock valued at $170,000 after purchasing an additional 4,006 shares in the last quarter. Evergreen Capital Management LLC lifted its position in InMode by 10.8% during the 3rd quarter. Evergreen Capital Management LLC now owns 15,606 shares of the healthcare company’s stock worth $221,000 after acquiring an additional 1,519 shares during the last quarter. Inspire Investing LLC grew its position in InMode by 5.7% during the third quarter. Inspire Investing LLC now owns 24,626 shares of the healthcare company’s stock worth $349,000 after buying an additional 1,321 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its stake in InMode by 41.5% during the third quarter. CWA Asset Management Group LLC now owns 174,721 shares of the healthcare company’s stock worth $2,476,000 after purchasing an additional 51,265 shares during the period. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Stock Performance

INMD opened at $13.22 on Friday. The firm has a market cap of $759.89 million, a P/E ratio of 10.75 and a beta of 1.98. The stock has a 50-day moving average of $14.38 and a 200 day moving average of $14.33. InMode has a 12 month low of $12.72 and a 12 month high of $16.67.

InMode (NASDAQ:INMD) last announced its quarterly earnings results on Wednesday, August 5th. The healthcare company reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $95.59 million for the quarter, compared to analyst estimates of $94.89 million. InMode had a return on equity of 11.99% and a net margin of 20.69%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 earnings per share.

InMode Company Profile

InMode Ltd. (NASDAQ: INMD) is a global medical technology company that develops and commercializes energy-based platforms for aesthetic and medical treatments. Its systems are designed to support minimally invasive and noninvasive procedures performed by physicians and other healthcare professionals.

The company’s product portfolio includes platforms and handpieces used in facial and body contouring, skin resurfacing, skin tightening, hair removal, and women’s health applications. Its technologies include radio-frequency and other energy-based treatments, with products such as Morpheus8, BodyTite, FaceTite, Optimas, and EmpowerRF serving a range of clinical and aesthetic needs.

Founded in 2008, InMode sells its products through direct sales and distribution channels to medical practices, clinics, and other healthcare providers.