Analysts Set InMode Ltd. (NASDAQ:INMD) Target Price at $32.80

Shares of InMode Ltd. (NASDAQ:INMD) have earned a consensus recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $32.80.

A number of analysts recently commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Tuesday, April 9th. UBS Group lifted their price target on shares of InMode from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Finally, Barclays decreased their target price on shares of InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th.

Institutional Trading of InMode

Several hedge funds have recently made changes to their positions in INMD. Exchange Traded Concepts LLC acquired a new stake in shares of InMode in the 3rd quarter worth about $27,000. Carmel Capital Partners LLC bought a new stake in shares of InMode during the third quarter valued at approximately $36,000. Principal Securities Inc. bought a new stake in shares of InMode during the fourth quarter valued at approximately $32,000. Sunbelt Securities Inc. acquired a new position in shares of InMode during the third quarter worth approximately $47,000. Finally, Trust Co. of Vermont grew its holdings in InMode by 32.8% in the 4th quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock worth $48,000 after buying an additional 536 shares in the last quarter. Institutional investors own 68.04% of the company’s stock.

InMode Stock Performance

INMD opened at $17.19 on Friday. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 7.47 and a beta of 2.16. InMode has a one year low of $16.82 and a one year high of $48.25. The business’s fifty day moving average is $20.13 and its two-hundred day moving average is $21.43.

InMode (NASDAQ:INMD) last issued its quarterly earnings data on Tuesday, February 13th. The healthcare company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $126.80 million for the quarter, compared to analysts’ expectations of $124.77 million. InMode had a net margin of 40.22% and a return on equity of 29.80%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 EPS. On average, analysts predict that InMode will post 2.04 EPS for the current fiscal year.

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.