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

Shares of InMode Ltd. (NASDAQ:INMD) have been assigned an average rating of “Hold” from the six brokerages that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $22.60.

A number of research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research note on Thursday, October 31st. BTIG Research began coverage on InMode in a report on Thursday, October 17th. They set a “buy” rating and a $25.00 price target for the company. Jefferies Financial Group downgraded InMode from a “buy” rating to a “hold” rating and cut their price objective for the company from $21.00 to $19.00 in a research report on Tuesday, July 23rd. Finally, Barclays decreased their target price on InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, October 14th.

Institutional Investors Weigh In On InMode

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Doma Perpetual Capital Management LLC lifted its stake in shares of InMode by 210.7% during the second quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company’s stock valued at $36,685,000 after acquiring an additional 1,363,841 shares during the period. Swedbank AB bought a new stake in InMode during the 1st quarter worth about $17,634,000. Federated Hermes Inc. raised its holdings in InMode by 191.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock worth $20,520,000 after purchasing an additional 739,629 shares during the last quarter. Acadian Asset Management LLC lifted its position in InMode by 63.6% during the 2nd quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company’s stock valued at $20,502,000 after purchasing an additional 437,122 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd bought a new position in shares of InMode in the 2nd quarter valued at about $4,104,000. 68.04% of the stock is owned by institutional investors and hedge funds.

InMode Stock Down 5.2 %

Shares of INMD stock opened at $18.01 on Thursday. The company has a market capitalization of $1.51 billion, a P/E ratio of 9.74 and a beta of 2.15. InMode has a 12-month low of $14.87 and a 12-month high of $26.80. The firm has a 50-day moving average price of $17.23 and a 200 day moving average price of $17.45.

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.