InMode’s (INMD) Hold Rating Reaffirmed at Needham & Company LLC

InMode (NASDAQ:INMD)‘s stock had its “hold” rating reaffirmed by research analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports.

Other equities research analysts also recently issued research reports about the stock. Barclays lowered their price objective on shares of InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Jefferies Financial Group downgraded shares of InMode from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $21.00 to $19.00 in a research note on Tuesday, July 23rd. 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 price objective on the stock. Finally, Canaccord Genuity Group decreased their price target on shares of InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, InMode has a consensus rating of “Hold” and an average target price of $22.60.

InMode Stock Up 1.1 %

NASDAQ:INMD opened at $17.26 on Thursday. InMode has a 12 month low of $14.87 and a 12 month high of $26.80. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 9.33 and a beta of 2.17. The company’s 50 day moving average is $16.65 and its 200-day moving average is $17.34.

InMode (NASDAQ:INMD) last announced its quarterly earnings data on Thursday, August 1st. The healthcare company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.04). The company had revenue of $102.60 million during the quarter, compared to analyst estimates of $104.81 million. InMode had a return on equity of 21.04% and a net margin of 36.26%. The company’s revenue was down 24.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 EPS. Research analysts predict that InMode will post 1.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB raised its holdings in InMode by 161.1% during the 1st quarter. Nordea Investment Management AB now owns 361,701 shares of the healthcare company’s stock worth $7,853,000 after purchasing an additional 223,191 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in InMode during the 1st quarter worth about $959,000. Systematic Financial Management LP raised its holdings in InMode by 34.5% during the 2nd quarter. Systematic Financial Management LP now owns 866,619 shares of the healthcare company’s stock worth $15,807,000 after purchasing an additional 222,532 shares during the last quarter. ARK Investment Management LLC raised its holdings in InMode by 35.0% during the 2nd quarter. ARK Investment Management LLC now owns 124,905 shares of the healthcare company’s stock worth $2,278,000 after purchasing an additional 32,369 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in InMode by 129.7% during the 2nd quarter. Hsbc Holdings PLC now owns 90,280 shares of the healthcare company’s stock worth $1,659,000 after purchasing an additional 50,974 shares during the last quarter. 68.04% of the stock is owned by institutional investors.

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.