InMode Ltd. (NASDAQ:INMD) Given Consensus Rating of “Hold” by Brokerages

Shares of InMode Ltd. (NASDAQ:INMD) have been given a consensus rating of “Hold” by the six research firms that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $22.60.

Several research firms have recently commented on INMD. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research report on Thursday, October 31st. Barclays decreased their price target on InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Finally, BTIG Research started coverage on InMode in a research report on Thursday, October 17th. They set a “buy” rating and a $25.00 price objective for the company.

InMode Trading Up 1.6 %

InMode stock opened at $17.40 on Friday. The company has a 50-day moving average price of $18.14 and a 200 day moving average price of $17.33. InMode has a 12-month low of $14.87 and a 12-month high of $26.80. The stock has a market cap of $1.46 billion, a P/E ratio of 9.41 and a beta of 2.12.

Institutional Investors Weigh In On InMode

A number of institutional investors have recently modified their holdings of the company. Systematic Financial Management LP boosted its holdings in InMode by 13.3% during the 3rd quarter. Systematic Financial Management LP now owns 982,111 shares of the healthcare company’s stock valued at $16,647,000 after acquiring an additional 115,492 shares during the period. Barclays PLC boosted its stake in shares of InMode by 113.5% in the third quarter. Barclays PLC now owns 169,630 shares of the healthcare company’s stock valued at $2,876,000 after purchasing an additional 90,173 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in InMode by 54.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,480 shares of the healthcare company’s stock worth $2,127,000 after buying an additional 44,058 shares during the period. Hsbc Holdings PLC lifted its holdings in InMode by 129.7% during the 2nd quarter. Hsbc Holdings PLC now owns 90,280 shares of the healthcare company’s stock worth $1,659,000 after buying an additional 50,974 shares in the last quarter. Finally, State Street Corp boosted its position in InMode by 3.7% in the 3rd quarter. State Street Corp now owns 2,044,640 shares of the healthcare company’s stock valued at $34,657,000 after buying an additional 73,183 shares during the period. 68.04% of the stock is owned by institutional investors and hedge funds.

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 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.