InMode (NASDAQ:INMD) Given “Hold” Rating at Needham & Company LLC

InMode (NASDAQ:INMD)‘s stock had its “hold” rating restated by research analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports.

A number of other analysts have also recently issued reports on INMD. Barclays lowered their target price on InMode from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, January 9th. BTIG Research initiated coverage on InMode in a research report on Thursday, October 17th. They set a “buy” rating and a $25.00 price target for the company. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.40.

InMode Trading Up 0.7 %

Shares of INMD stock traded up $0.11 on Tuesday, reaching $16.78. The company had a trading volume of 451,077 shares, compared to its average volume of 820,017. The company has a 50-day moving average of $17.54 and a 200-day moving average of $17.21. InMode has a 12 month low of $14.87 and a 12 month high of $26.80. The stock has a market cap of $1.41 billion, a PE ratio of 9.07 and a beta of 2.13.

InMode (NASDAQ:INMD) last announced its quarterly earnings results on Tuesday, February 11th. The healthcare company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.21). InMode had a return on equity of 21.46% and a net margin of 36.26%. Sell-side analysts anticipate that InMode will post 1.66 earnings per share for the current year.

Institutional Trading of InMode

A number of hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its holdings in InMode by 314.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,550 shares of the healthcare company’s stock worth $60,000 after purchasing an additional 2,694 shares during the last quarter. Quarry LP boosted its holdings in InMode by 154.3% in the 3rd quarter. Quarry LP now owns 3,781 shares of the healthcare company’s stock valued at $64,000 after purchasing an additional 2,294 shares during the period. National Bank of Canada FI grew its position in InMode by 6.2% during the third quarter. National Bank of Canada FI now owns 9,985 shares of the healthcare company’s stock worth $169,000 after buying an additional 579 shares in the last quarter. GW Henssler & Associates Ltd. acquired a new stake in shares of InMode during the 3rd quarter worth $177,000. Finally, DGS Capital Management LLC bought a new position in shares of InMode in the third quarter worth $182,000. Institutional investors and hedge funds own 68.04% of the company’s stock.

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.