InMode (NASDAQ:INMD) Coverage Initiated by Analysts at BTIG Research

BTIG Research started coverage on shares of InMode (NASDAQ:INMD) in a research report report published on Thursday morning, MarketBeat reports. The brokerage issued a buy rating and a $25.00 price objective on the healthcare company’s stock.

INMD has been the topic of several other reports. Canaccord Genuity Group decreased their target price 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. Barclays reduced their price target on shares of InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Thursday, October 10th. Finally, Jefferies Financial Group downgraded InMode from a “buy” rating to a “hold” rating and reduced their target price for the company from $21.00 to $19.00 in a research report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.60.

InMode Price Performance

INMD stock opened at $17.78 on Thursday. InMode has a 1 year low of $14.87 and a 1 year high of $26.80. The firm has a market capitalization of $1.49 billion, a PE ratio of 8.43 and a beta of 2.17. The business has a 50 day simple moving average of $16.28 and a 200-day simple moving average of $17.42.

InMode (NASDAQ:INMD) last issued its earnings results on Thursday, August 1st. The healthcare company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.04). InMode had a net margin of 35.81% and a return on equity of 21.00%. The company had revenue of $102.60 million during the quarter, compared to analysts’ expectations of $104.81 million. The firm’s quarterly revenue was down 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 earnings per share. On average, equities research analysts expect that InMode will post 1.63 EPS for the current year.

Hedge Funds Weigh In On InMode

A number of hedge funds have recently made changes to their positions in the stock. Inspire Advisors LLC lifted its stake in InMode by 45.5% during the third quarter. Inspire Advisors LLC now owns 31,192 shares of the healthcare company’s stock worth $529,000 after purchasing an additional 9,759 shares in the last quarter. Unison Advisors LLC purchased a new stake in shares of InMode in the 3rd quarter valued at $675,000. Handelsbanken Fonder AB lifted its stake in InMode by 6.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 128,097 shares of the healthcare company’s stock worth $2,171,000 after acquiring an additional 8,028 shares in the last quarter. SG Americas Securities LLC boosted its holdings in InMode by 221.7% during the 3rd quarter. SG Americas Securities LLC now owns 73,611 shares of the healthcare company’s stock valued at $1,248,000 after acquiring an additional 50,731 shares during the period. Finally, Systematic Financial Management LP grew its position in InMode by 34.5% in the 2nd quarter. Systematic Financial Management LP now owns 866,619 shares of the healthcare company’s stock valued at $15,807,000 after acquiring an additional 222,532 shares in the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

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.