InMode Ltd. (NASDAQ:INMD) Receives $22.60 Consensus PT from Brokerages

InMode Ltd. (NASDAQ:INMD) has been given a consensus recommendation of “Hold” by the six brokerages that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and two have issued a buy rating on 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 analysts have recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research note on Thursday, October 31st. BTIG Research began coverage on shares of InMode in a research note on Thursday, October 17th. They issued a “buy” rating and a $25.00 target price on the stock. Finally, Barclays decreased their price target on shares of InMode from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, October 14th.

InMode Stock Up 0.3 %

INMD opened at $17.01 on Friday. The business has a fifty day moving average of $18.17 and a 200 day moving average of $17.34. InMode has a 52-week low of $14.87 and a 52-week high of $26.80. The stock has a market cap of $1.43 billion, a P/E ratio of 9.19 and a beta of 2.12.

Hedge Funds Weigh In On InMode

A number of hedge funds and other institutional investors have recently modified their holdings of INMD. Systematic Financial Management LP lifted its stake in shares of InMode by 13.3% during the 3rd quarter. Systematic Financial Management LP now owns 982,111 shares of the healthcare company’s stock worth $16,647,000 after purchasing an additional 115,492 shares during the last quarter. Barclays PLC raised its holdings in InMode by 113.5% in the third quarter. Barclays PLC now owns 169,630 shares of the healthcare company’s stock worth $2,876,000 after purchasing an additional 90,173 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of InMode by 54.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,480 shares of the healthcare company’s stock valued at $2,127,000 after buying an additional 44,058 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of InMode by 129.7% in the 2nd quarter. Hsbc Holdings PLC now owns 90,280 shares of the healthcare company’s stock valued at $1,659,000 after buying an additional 50,974 shares in the last quarter. Finally, State Street Corp grew its position in shares of InMode by 3.7% in the 3rd quarter. State Street Corp now owns 2,044,640 shares of the healthcare company’s stock worth $34,657,000 after buying an additional 73,183 shares during the last quarter. 68.04% of the stock is currently owned by institutional investors.

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.