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

InMode Ltd. (NASDAQ:INMD) has received a consensus rating of “Hold” from the six ratings firms that are presently covering the stock, 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 price objective among analysts that have updated their coverage on the stock in the last year is $22.60.

A number of equities analysts have weighed in on INMD shares. BTIG Research assumed coverage on InMode in a research note on Thursday, October 17th. They set a “buy” rating and a $25.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Thursday, October 31st. Finally, Barclays decreased their price target on InMode from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, October 14th.

InMode Price Performance

Shares of InMode stock opened at $16.96 on Friday. The stock has a market cap of $1.42 billion, a PE ratio of 9.17 and a beta of 2.07. The firm has a fifty day moving average price of $18.18 and a 200 day moving average price of $17.35. InMode has a 1 year low of $14.87 and a 1 year high of $26.80.

Hedge Funds Weigh In On InMode

Institutional investors and hedge funds have recently modified their holdings of the business. National Bank of Canada FI boosted 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 purchasing an additional 579 shares in the last quarter. Carmel Capital Partners LLC lifted its position in shares of InMode by 6.9% during the 3rd quarter. Carmel Capital Partners LLC now owns 11,511 shares of the healthcare company’s stock valued at $195,000 after buying an additional 741 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of InMode by 4.6% during the 3rd quarter. Franklin Resources Inc. now owns 17,559 shares of the healthcare company’s stock valued at $292,000 after buying an additional 768 shares in the last quarter. Meritage Portfolio Management grew its stake in InMode by 9.5% in the 3rd quarter. Meritage Portfolio Management now owns 14,765 shares of the healthcare company’s stock valued at $250,000 after acquiring an additional 1,284 shares during the period. Finally, Inspire Advisors LLC increased its holdings in InMode by 9.0% in the 2nd quarter. Inspire Advisors LLC now owns 21,433 shares of the healthcare company’s stock worth $391,000 after acquiring an additional 1,778 shares in the last quarter. Hedge funds and other institutional investors 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.