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

Shares of InMode Ltd. (NASDAQ:INMD) have received a consensus recommendation of “Hold” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $22.40.

Several equities research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a report 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 objective on the stock. Finally, Barclays cut their target price on shares of InMode from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday.

Institutional Trading of InMode

Hedge funds and other institutional investors have recently bought and sold shares of the stock. National Bank of Canada FI increased its position in InMode by 6.2% during the third quarter. National Bank of Canada FI now owns 9,985 shares of the healthcare company’s stock valued at $169,000 after acquiring an additional 579 shares during the last quarter. Carmel Capital Partners LLC raised its position in InMode by 6.9% in the 3rd 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 during the period. Franklin Resources Inc. lifted its stake in InMode by 4.6% in the third quarter. Franklin Resources Inc. now owns 17,559 shares of the healthcare company’s stock worth $292,000 after purchasing an additional 768 shares during the last quarter. Meritage Portfolio Management boosted its position in shares of InMode by 9.5% during the third quarter. Meritage Portfolio Management now owns 14,765 shares of the healthcare company’s stock valued at $250,000 after buying an additional 1,284 shares during the period. Finally, Inspire Advisors LLC grew its stake in shares of InMode by 9.0% during the second quarter. Inspire Advisors LLC now owns 21,433 shares of the healthcare company’s stock valued at $391,000 after buying an additional 1,778 shares during the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Stock Performance

INMD opened at $16.01 on Friday. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 8.65 and a beta of 2.12. InMode has a fifty-two week low of $14.87 and a fifty-two week high of $26.80. The company has a fifty day moving average of $18.09 and a 200 day moving average of $17.32.

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.