InMode’s (INMD) Hold Rating Reiterated at Needham & Company LLC

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

A number of other brokerages have also recently commented on INMD. BTIG Research assumed coverage on shares of InMode in a research note on Thursday, October 17th. They set a “buy” rating and a $25.00 price target for the company. Barclays decreased their price target on InMode from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, January 9th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, InMode currently has an average rating of “Hold” and an average price target of $22.40.

InMode Stock Up 0.7 %

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

InMode (NASDAQ:INMD) last issued its earnings results on Tuesday, February 11th. The healthcare company reported $0.38 EPS for the quarter, missing the consensus estimate 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 forecast that InMode will post 1.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in shares of InMode by 221.7% during the third quarter. SG Americas Securities LLC now owns 73,611 shares of the healthcare company’s stock worth $1,248,000 after purchasing an additional 50,731 shares in the last quarter. Handelsbanken Fonder AB boosted its position in InMode by 6.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 128,097 shares of the healthcare company’s stock valued at $2,171,000 after buying an additional 8,028 shares during the last quarter. Unison Advisors LLC acquired a new stake in shares of InMode in the 3rd quarter valued at $675,000. Inspire Advisors LLC raised its position in shares of 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 acquiring an additional 9,759 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of InMode by 314.7% during the third quarter. Nisa Investment Advisors LLC now owns 3,550 shares of the healthcare company’s stock valued at $60,000 after acquiring an additional 2,694 shares during the period. Institutional investors and hedge funds 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.