InMode (NASDAQ:INMD) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

InMode Ltd. (NASDAQ:INMD) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.59 and traded as high as $14.85. InMode shares last traded at $14.69, with a volume of 649,141 shares changing hands.

Analysts Set New Price Targets

INMD has been the subject of several research analyst reports. UBS Group lowered their price objective on InMode from $16.25 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Zacks Research raised InMode from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Wall Street Zen lowered InMode from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Canaccord Genuity Group set a $15.00 price target on InMode and gave the stock a “hold” rating in a report on Wednesday, December 17th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of InMode in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.60.

InMode Price Performance

The firm has a fifty day simple moving average of $14.46 and a 200-day simple moving average of $14.59. The firm has a market cap of $928.55 million, a P/E ratio of 6.80 and a beta of 2.13.

Institutional Trading of InMode

Hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC boosted its holdings in InMode by 63.1% during the second quarter. Parallel Advisors LLC now owns 1,973 shares of the healthcare company’s stock worth $28,000 after purchasing an additional 763 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of InMode during the 3rd quarter worth approximately $37,000. 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 worth $43,000 after buying an additional 1,384 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of InMode in the 3rd quarter worth approximately $52,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of InMode in the third quarter valued at approximately $69,000. Institutional investors and hedge funds own 68.04% of the company’s stock.

About InMode

InMode Ltd. (NASDAQ:INMD) is a medical technology company headquartered in Israel that develops, manufactures and markets devices for aesthetic and medical treatments. The company specializes in energy-based technologies, primarily radiofrequency platforms, designed to deliver minimally-invasive and non-invasive procedures.

InMode’s product portfolio encompasses a range of modular systems targeting body contouring, facial rejuvenation, skin tightening and other cosmetic applications. Key offerings include devices built on proprietary radiofrequency and radiofrequency-assisted lipolysis, enabling physicians to perform treatments such as tissue coagulation, skin resurfacing and subdermal volumizing with reduced downtime.

The company distributes its technologies through direct sales operations and distribution partners, serving medical professionals across multiple geographies including North America, Europe, Asia Pacific and Latin America.