InMode Ltd. (NASDAQ:INMD – Get Rating) has received an average rating of “Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $74.80.
A number of equities analysts have recently weighed in on the company. Robert W. Baird cut their target price on InMode from $82.00 to $57.00 in a research note on Tuesday, May 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $82.00 price objective on shares of InMode in a research note on Monday, April 18th. Finally, Canaccord Genuity Group dropped their price objective on InMode from $72.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday.
Shares of NASDAQ INMD opened at $24.35 on Thursday. InMode has a twelve month low of $22.89 and a twelve month high of $99.27. The stock’s 50 day moving average price is $34.22 and its 200-day moving average price is $55.19. The company has a market capitalization of $2.03 billion, a PE ratio of 12.39 and a beta of 2.12.
InMode (NASDAQ:INMD – Get Rating) last announced its earnings results on Monday, May 2nd. The healthcare company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. InMode had a return on equity of 43.98% and a net margin of 44.79%. The firm had revenue of $85.90 million for the quarter, compared to the consensus estimate of $83.45 million. During the same quarter in the previous year, the business earned $0.69 EPS. The company’s revenue was up 31.1% compared to the same quarter last year.
A number of hedge funds have recently modified their holdings of INMD. Morgan Stanley raised its holdings in InMode by 19.5% during the 2nd quarter. Morgan Stanley now owns 546,042 shares of the healthcare company’s stock valued at $51,699,000 after acquiring an additional 88,915 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in InMode by 39.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 17,346 shares of the healthcare company’s stock valued at $2,766,000 after acquiring an additional 4,940 shares during the period. PNC Financial Services Group Inc. raised its holdings in InMode by 72.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,566 shares of the healthcare company’s stock valued at $729,000 after acquiring an additional 1,916 shares during the period. Resources Investment Advisors LLC. bought a new stake in InMode during the 3rd quarter valued at $214,000. Finally, Truist Financial Corp bought a new position in shares of InMode in the third quarter worth $226,000. 53.58% of the stock is currently owned by institutional investors and hedge funds.
InMode Company Profile (Get Rating)
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.
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