InMode (NASDAQ:INMD) Trading 3.6% Higher – Still a Buy?

InMode Ltd. (NASDAQ:INMD)’s share price traded up 3.6% during trading on Thursday . The stock traded as high as $18.75 and last traded at $18.81. 41,002 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 942,719 shares. The stock had previously closed at $18.16.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of InMode in a report on Tuesday, February 4th. Barclays lifted their price target on shares of InMode from $26.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.25.

InMode Price Performance

The company has a market cap of $1.29 billion, a P/E ratio of 7.85 and a beta of 2.07. The business’s 50 day moving average price is $17.87 and its 200-day moving average price is $17.57.

Institutional Trading of InMode

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Orion Capital Management LLC bought a new position in shares of InMode in the fourth quarter worth about $65,000. Quarry LP raised its position in InMode by 154.3% in the 3rd quarter. Quarry LP now owns 3,781 shares of the healthcare company’s stock worth $64,000 after purchasing an additional 2,294 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in InMode during the 4th quarter worth $87,000. Farther Finance Advisors LLC boosted its position in InMode by 26.2% in the 4th quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company’s stock valued at $93,000 after buying an additional 1,154 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of InMode by 13.9% in the 4th quarter. Covestor Ltd now owns 5,936 shares of the healthcare company’s stock valued at $99,000 after buying an additional 723 shares during the period. 68.04% of the stock is currently owned by institutional investors and hedge funds.

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.