InMode Ltd. (NASDAQ:INMD) Given Average Recommendation of “Hold” by Analysts

InMode Ltd. (NASDAQ:INMD) has earned a consensus rating of “Hold” from the six brokerages that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $22.40.

Several research firms have recently commented on INMD. BTIG Research started coverage on shares of InMode in a research report on Thursday, October 17th. They set a “buy” rating and a $25.00 price target for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a report on Thursday, October 31st. Finally, Barclays dropped their price target on shares of InMode from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday.

InMode Price Performance

INMD stock opened at $16.01 on Friday. The company has a market cap of $1.34 billion, a P/E ratio of 8.65 and a beta of 2.12. InMode has a 1 year low of $14.87 and a 1 year high of $26.80. The stock’s fifty day moving average price is $18.09 and its 200-day moving average price is $17.32.

Hedge Funds Weigh In On InMode

Several large investors have recently added to or reduced their stakes in INMD. Doma Perpetual Capital Management LLC lifted its stake in shares of InMode by 210.7% during the 2nd quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company’s stock valued at $36,685,000 after buying an additional 1,363,841 shares in the last quarter. Federated Hermes Inc. raised its holdings in InMode by 191.9% during the second quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock valued at $20,520,000 after acquiring an additional 739,629 shares during the period. Acadian Asset Management LLC lifted its position in shares of InMode by 63.6% in the second quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company’s stock valued at $20,502,000 after acquiring an additional 437,122 shares in the last quarter. Lombard Odier Asset Management Europe Ltd bought a new position in shares of InMode in the second quarter worth about $4,104,000. Finally, Systematic Financial Management LP grew its position in shares of InMode by 34.5% during the second quarter. Systematic Financial Management LP now owns 866,619 shares of the healthcare company’s stock worth $15,807,000 after purchasing 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.