InMode Ltd. (NASDAQ:INMD) Receives $22.60 Average Target Price from Brokerages

InMode Ltd. (NASDAQ:INMD) has been assigned an average recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $22.60.

A number of equities research analysts have issued reports on INMD shares. Jefferies Financial Group cut shares of InMode from a “buy” rating to a “hold” rating and decreased their price target for the company from $21.00 to $19.00 in a report on Tuesday, July 23rd. BTIG Research started coverage on InMode in a research report on Thursday, October 17th. They set a “buy” rating and a $25.00 price objective 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 InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th.

InMode Trading Down 5.2 %

NASDAQ INMD opened at $18.01 on Thursday. InMode has a 1 year low of $14.87 and a 1 year high of $26.80. The company has a fifty day simple moving average of $17.23 and a 200 day simple moving average of $17.45. The company has a market cap of $1.51 billion, a P/E ratio of 9.74 and a beta of 2.15.

Institutional Trading of InMode

Several institutional investors have recently modified their holdings of INMD. Doma Perpetual Capital Management LLC increased its stake in InMode by 210.7% in the second quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company’s stock valued at $36,685,000 after acquiring an additional 1,363,841 shares during the period. Swedbank AB bought a new stake in shares of InMode in the 1st quarter valued at approximately $17,634,000. Federated Hermes Inc. raised its holdings in shares of InMode by 191.9% in the 2nd quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock worth $20,520,000 after buying an additional 739,629 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of InMode by 63.6% during the 2nd quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company’s stock worth $20,502,000 after buying an additional 437,122 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd bought a new position in shares of InMode during the 2nd quarter worth approximately $4,104,000. 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.