InMode Ltd. (NASDAQ:INMD) Receives Average Recommendation of “Hold” from Analysts

InMode Ltd. (NASDAQ:INMD) has earned a consensus rating of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $22.60.

A number of research analysts have recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of InMode in a report on Thursday, October 31st. Barclays lowered their price objective on shares of InMode from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Finally, BTIG Research began coverage on shares of InMode in a research report on Thursday, October 17th. They issued a “buy” rating and a $25.00 target price on the stock.

Hedge Funds Weigh In On InMode

Several institutional investors and hedge funds have recently added to or reduced their stakes in INMD. Asset Dedication LLC bought a new stake in shares of InMode in the second quarter worth $33,000. nVerses Capital LLC bought a new position in InMode during the 2nd quarter worth $42,000. 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 buying an additional 2,694 shares during the period. Quarry LP grew its position in shares of 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 buying an additional 2,294 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in shares of InMode by 40.7% in the second quarter. National Bank of Canada FI now owns 9,406 shares of the healthcare company’s stock valued at $168,000 after buying an additional 2,720 shares during the period. 68.04% of the stock is currently owned by institutional investors and hedge funds.

InMode Stock Up 0.1 %

Shares of INMD stock opened at $18.13 on Monday. The business has a fifty day simple moving average of $17.81 and a 200 day simple moving average of $17.49. The company has a market cap of $1.52 billion, a P/E ratio of 9.80 and a beta of 2.07. InMode has a twelve month low of $14.87 and a twelve month high of $26.80.

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.