InMode Ltd. (NASDAQ:INMD) Receives $32.80 Consensus Target Price from Brokerages

Shares of InMode Ltd. (NASDAQ:INMD) have been given a consensus rating of “Hold” by the six brokerages that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $32.80.

INMD has been the topic of a number of analyst reports. Barclays lowered their target price on shares of InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Tuesday, April 9th. Finally, UBS Group increased their price objective on InMode from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th.

Hedge Funds Weigh In On InMode

Large investors have recently bought and sold shares of the stock. Meitav Investment House Ltd. grew its stake in shares of InMode by 22.1% in the fourth quarter. Meitav Investment House Ltd. now owns 1,940,890 shares of the healthcare company’s stock worth $43,166,000 after purchasing an additional 351,863 shares during the last quarter. LSV Asset Management grew its position in shares of InMode by 15.6% in the 4th quarter. LSV Asset Management now owns 1,940,071 shares of the healthcare company’s stock worth $43,147,000 after buying an additional 261,252 shares during the last quarter. Boston Trust Walden Corp purchased a new position in shares of InMode during the fourth quarter valued at approximately $32,366,000. DDD Partners LLC raised its holdings in shares of InMode by 24.4% during the fourth quarter. DDD Partners LLC now owns 1,228,162 shares of the healthcare company’s stock valued at $27,314,000 after acquiring an additional 240,856 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd lifted its stake in InMode by 44.0% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,080,000 shares of the healthcare company’s stock worth $32,897,000 after acquiring an additional 330,000 shares during the period. 68.04% of the stock is owned by hedge funds and other institutional investors.

InMode Price Performance

Shares of InMode stock opened at $17.19 on Friday. The firm has a market cap of $1.44 billion, a PE ratio of 7.47 and a beta of 2.16. InMode has a 1 year low of $16.82 and a 1 year high of $48.25. The stock has a fifty day moving average price of $20.13 and a 200-day moving average price of $21.43.

InMode (NASDAQ:INMD) last released its earnings results on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. InMode had a net margin of 40.22% and a return on equity of 29.80%. The firm had revenue of $126.80 million during the quarter, compared to the consensus estimate of $124.77 million. During the same period in the prior year, the firm earned $0.69 EPS. The company’s revenue was down 5.1% compared to the same quarter last year. As a group, equities analysts anticipate that InMode will post 2.04 EPS for the current fiscal year.

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.