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

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

INMD has been the subject of a number of other reports. Barclays dropped their target price on shares of InMode from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Jefferies Financial Group lowered InMode from a “buy” rating to a “hold” rating and lowered their price target for the company from $21.00 to $19.00 in a research report on Tuesday, July 23rd. BTIG Research began coverage on InMode in a research report on Thursday, October 17th. They issued a “buy” rating and a $25.00 price objective on the stock. Finally, Canaccord Genuity Group decreased their target price on InMode from $21.00 to $16.00 and set a “hold” rating for the company in a report on Friday, July 12th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.60.

InMode Stock Performance

Shares of INMD stock opened at $17.26 on Thursday. The company has a market capitalization of $1.45 billion, a P/E ratio of 9.33 and a beta of 2.15. InMode has a fifty-two week low of $14.87 and a fifty-two week high of $26.80. The stock has a 50 day moving average price of $16.65 and a two-hundred day moving average price of $17.34.

InMode (NASDAQ:INMD) last posted its quarterly 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). The firm had revenue of $102.60 million for the quarter, compared to the consensus estimate of $104.81 million. InMode had a net margin of 36.26% and a return on equity of 21.46%. The company’s quarterly revenue was down 24.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 earnings per share. As a group, equities analysts predict that InMode will post 1.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in INMD. Atria Investments Inc purchased a new position in shares of InMode in the 3rd quarter valued at approximately $208,000. Carmel Capital Partners LLC raised its holdings in InMode by 6.9% in the third quarter. Carmel Capital Partners LLC now owns 11,511 shares of the healthcare company’s stock worth $195,000 after purchasing an additional 741 shares in the last quarter. Easterly Investment Partners LLC lifted its position in InMode by 26.6% during the third quarter. Easterly Investment Partners LLC now owns 121,589 shares of the healthcare company’s stock valued at $2,061,000 after buying an additional 25,579 shares during the period. Harvey Capital Management Inc. lifted its position in InMode by 57.1% during the third quarter. Harvey Capital Management Inc. now owns 50,790 shares of the healthcare company’s stock valued at $861,000 after buying an additional 18,450 shares during the period. Finally, EMC Capital Management boosted its holdings in shares of InMode by 219.4% during the 3rd quarter. EMC Capital Management now owns 13,319 shares of the healthcare company’s stock valued at $226,000 after buying an additional 9,149 shares in the last quarter. Hedge funds and other institutional investors 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.