InMode (NASDAQ:INMD) Stock Rating Reaffirmed by Needham & Company LLC

InMode (NASDAQ:INMD)‘s stock had its “hold” rating reissued by Needham & Company LLC in a research note issued on Friday, Benzinga reports.

Several other equities analysts have also recently weighed in on INMD. UBS Group increased their price objective on shares of InMode from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Barclays dropped their price target on shares of InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, InMode presently has an average rating of “Hold” and an average price target of $32.80.

InMode Stock Up 1.6 %

Shares of InMode stock opened at $17.64 on Friday. InMode has a twelve month low of $16.72 and a twelve month high of $48.25. The company’s 50 day moving average is $19.92 and its 200 day moving average is $21.35. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 8.36 and a beta of 2.20.

InMode (NASDAQ:INMD) last released its quarterly earnings results on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 27.66% and a net margin of 38.84%. The company’s revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 EPS. Sell-side analysts expect that InMode will post 2.04 EPS for the current fiscal year.

Institutional Trading of InMode

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Exchange Traded Concepts LLC bought a new position in InMode in the 3rd quarter worth $27,000. Cambridge Investment Research Advisors Inc. grew its position in shares of InMode by 32.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 35,018 shares of the healthcare company’s stock worth $1,067,000 after purchasing an additional 8,667 shares in the last quarter. Dakota Wealth Management raised its stake in InMode by 87.2% during the 3rd quarter. Dakota Wealth Management now owns 13,641 shares of the healthcare company’s stock valued at $416,000 after purchasing an additional 6,355 shares during the period. Bank of New York Mellon Corp lifted its holdings in InMode by 10.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 255,470 shares of the healthcare company’s stock worth $7,782,000 after purchasing an additional 24,264 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its stake in InMode by 18.1% in the 3rd quarter. Park Avenue Securities LLC now owns 12,516 shares of the healthcare company’s stock worth $381,000 after purchasing an additional 1,919 shares during the period. 68.04% of the stock is owned by hedge funds and other institutional investors.

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.