InMode (NASDAQ:INMD) Rating Lowered to “Hold” at Wall Street Zen

InMode (NASDAQ:INMD) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other analysts also recently commented on INMD. UBS Group lowered their target price on shares of InMode from $16.25 to $16.00 and set a “neutral” rating for the company in a report on Thursday. Zacks Research raised shares of InMode from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Weiss Ratings restated a “sell (d+)” rating on shares of InMode in a research note on Wednesday, October 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a report on Friday, October 10th. Finally, Barclays decreased their price target on InMode from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, InMode currently has an average rating of “Hold” and a consensus price target of $16.80.

InMode Stock Up 0.1%

INMD stock opened at $14.45 on Friday. The firm has a market capitalization of $913.38 million, a PE ratio of 6.69 and a beta of 2.11. InMode has a twelve month low of $13.14 and a twelve month high of $19.85. The stock’s 50 day moving average is $15.06 and its 200-day moving average is $14.64.

InMode (NASDAQ:INMD) last announced its quarterly earnings results on Wednesday, November 5th. The healthcare company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.06. InMode had a return on equity of 14.50% and a net margin of 41.04%.The business had revenue of $93.17 million during the quarter, compared to the consensus estimate of $88.05 million. During the same quarter in the prior year, the company posted $0.70 earnings per share. InMode’s revenue was down 28.5% compared to the same quarter last year. On average, equities research analysts anticipate that InMode will post 1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On InMode

A number of hedge funds have recently modified their holdings of INMD. Parallel Advisors LLC lifted its stake in InMode by 63.1% in the second quarter. Parallel Advisors LLC now owns 1,973 shares of the healthcare company’s stock valued at $28,000 after purchasing an additional 763 shares during the last quarter. CWM LLC raised its stake in shares of InMode by 106.4% in the first quarter. CWM LLC now owns 2,369 shares of the healthcare company’s stock valued at $42,000 after buying an additional 1,221 shares during the period. Blue Trust Inc. lifted its position in shares of InMode by 93.7% during the 3rd quarter. Blue Trust Inc. now owns 2,861 shares of the healthcare company’s stock valued at $43,000 after buying an additional 1,384 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of InMode during the 3rd quarter valued at $52,000. Finally, Summit Securities Group LLC bought a new position in shares of InMode during the 1st quarter worth $70,000. 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.