InMode Ltd. (NASDAQ:INMD) Receives $16.60 Average Target Price from Analysts

InMode Ltd. (NASDAQ:INMD) has been assigned an average recommendation of “Hold” from the ten ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $16.60.

Several equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of InMode from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. UBS Group decreased their price objective on InMode from $16.25 to $16.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of InMode in a research report on Wednesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Friday, October 10th. Finally, Canaccord Genuity Group set a $15.00 price target on InMode and gave the company a “hold” rating in a research note on Wednesday, December 17th.

InMode Price Performance

Shares of NASDAQ INMD opened at $15.64 on Friday. The company has a 50 day simple moving average of $14.46 and a 200 day simple moving average of $14.66. InMode has a 1 year low of $13.14 and a 1 year high of $19.78. The firm has a market cap of $988.59 million, a PE ratio of 7.24 and a beta of 2.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of INMD. Cooper Creek Partners Management LLC acquired a new stake in shares of InMode during the 3rd quarter worth approximately $14,980,000. Ancient Art L.P. acquired a new position in shares of InMode during the 3rd quarter valued at $14,254,000. Goldman Sachs Group Inc. boosted its stake in InMode by 234.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company’s stock worth $19,935,000 after acquiring an additional 788,157 shares in the last quarter. Doma Perpetual Capital Management LLC grew its holdings in InMode by 26.8% in the third quarter. Doma Perpetual Capital Management LLC now owns 2,838,431 shares of the healthcare company’s stock worth $42,293,000 after purchasing an additional 599,108 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in InMode in the second quarter valued at $8,294,000. Institutional investors and hedge funds own 68.04% of the company’s stock.

InMode Company Profile

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.