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

Needham & Company LLC reiterated their hold rating on shares of InMode (NASDAQ:INMD) in a research report report published on Thursday morning, Benzinga reports.

Several other equities research analysts have also recently issued reports on INMD. Canaccord Genuity Group lowered their price objective on InMode from $21.00 to $16.00 and set a hold rating on the stock in a report on Friday, July 12th. Jefferies Financial Group cut 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 report on Tuesday, July 23rd. Finally, Barclays lowered their price objective on InMode from $33.00 to $29.00 and set an overweight rating on the stock in a report on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $22.40.

InMode Stock Up 2.0 %

Shares of NASDAQ:INMD traded up $0.33 during trading on Thursday, reaching $16.49. 218,799 shares of the company’s stock traded hands, compared to its average volume of 1,368,610. InMode has a fifty-two week low of $14.87 and a fifty-two week high of $26.80. The firm has a market cap of $1.38 billion, a PE ratio of 9.29 and a beta of 2.17. The company has a 50-day simple moving average of $16.26 and a 200-day simple moving average of $17.62.

InMode (NASDAQ:INMD) last posted its earnings results on Thursday, August 1st. The healthcare company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). InMode had a net margin of 35.81% and a return on equity of 21.00%. The business had revenue of $102.60 million for the quarter, compared to analyst estimates of $104.81 million. During the same quarter last year, the business earned $0.65 earnings per share. InMode’s revenue was down 24.6% on a year-over-year basis. On average, equities research analysts forecast that InMode will post 1.63 EPS for the current year.

Institutional Investors Weigh In On InMode

Large investors have recently made changes to their positions in the stock. Asset Dedication LLC purchased a new stake in shares of InMode in the second quarter valued at approximately $33,000. Headlands Technologies LLC grew its position in shares of InMode by 118.2% in the first quarter. Headlands Technologies LLC now owns 1,916 shares of the healthcare company’s stock valued at $41,000 after purchasing an additional 1,038 shares in the last quarter. Trust Co. of Vermont lifted its holdings in InMode by 32.8% in the fourth quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock valued at $48,000 after acquiring an additional 536 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in InMode by 69.2% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,200 shares of the healthcare company’s stock valued at $49,000 after acquiring an additional 900 shares during the last quarter. Finally, nVerses Capital LLC acquired a new position in InMode in the second quarter valued at approximately $42,000. 68.04% of the stock is currently owned by hedge funds and other 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.