InMode’s (INMD) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of InMode (NASDAQ:INMD) in a research note released on Friday morning, Benzinga reports.

INMD has been the subject of a number of other reports. Barclays decreased their price objective on InMode from $34.00 to $33.00 and set an overweight rating for the company in a report on Friday, April 12th. UBS Group upped their price target on InMode from $24.00 to $26.00 and gave the stock a neutral rating in a report on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $32.80.

InMode Price Performance

Shares of INMD stock traded up $0.28 on Friday, reaching $17.64. 1,596,228 shares of the company were exchanged, compared to its average volume of 1,636,185. The company has a 50-day moving average of $19.99 and a 200-day moving average of $21.37. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 8.36 and a beta of 2.20. InMode has a one year low of $16.72 and a one year high of $48.25.

InMode (NASDAQ:INMD) last announced its quarterly earnings results on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. The business had revenue of $126.80 million for the quarter, compared to analyst estimates of $124.77 million. InMode had a return on equity of 27.66% and a net margin of 38.84%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 earnings per share. As a group, sell-side analysts predict that InMode will post 2.04 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC bought a new stake in shares of InMode during the 3rd quarter worth $27,000. Principal Securities Inc. purchased a new position in InMode in the fourth quarter valued at about $32,000. Carmel Capital Partners LLC purchased a new position in InMode in the third quarter valued at about $36,000. Sunbelt Securities Inc. bought a new position in shares of InMode during the 3rd quarter valued at approximately $47,000. Finally, Trust Co. of Vermont increased its stake in shares of InMode by 32.8% during the 4th quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock worth $48,000 after purchasing an additional 536 shares during 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.