Brokerages Set InMode Ltd. (NASDAQ:INMD) PT at $22.60

InMode Ltd. (NASDAQ:INMD) has been assigned an average recommendation of “Hold” from the six ratings firms that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $22.60.

Several research analysts have recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research report on Thursday, October 31st. BTIG Research began coverage on InMode in a research report on Thursday, October 17th. They issued a “buy” rating and a $25.00 target price on the stock. Finally, Barclays cut their price objective on InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, October 14th.

Institutional Trading of InMode

A number of hedge funds have recently modified their holdings of INMD. DGS Capital Management LLC acquired a new position in shares of InMode in the 3rd quarter valued at $182,000. Franklin Resources Inc. increased its holdings in InMode by 4.6% in the third quarter. Franklin Resources Inc. now owns 17,559 shares of the healthcare company’s stock valued at $292,000 after buying an additional 768 shares in the last quarter. Tidal Investments LLC raised its position in shares of InMode by 4.6% in the third quarter. Tidal Investments LLC now owns 71,039 shares of the healthcare company’s stock worth $1,204,000 after acquiring an additional 3,140 shares during the period. Virtu Financial LLC purchased a new stake in shares of InMode during the 3rd quarter worth about $219,000. Finally, Geode Capital Management LLC grew its position in shares of InMode by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,101,951 shares of the healthcare company’s stock valued at $18,678,000 after acquiring an additional 6,282 shares during the period. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Stock Performance

NASDAQ:INMD opened at $18.26 on Monday. The firm has a 50-day simple moving average of $18.04 and a 200-day simple moving average of $17.51. InMode has a one year low of $14.87 and a one year high of $26.80. The firm has a market cap of $1.53 billion, a P/E ratio of 9.96 and a beta of 2.07.

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.