Needham & Company LLC Reaffirms Hold Rating for InMode (NASDAQ:INMD)

InMode (NASDAQ:INMD - Get Free Report)'s stock had its "hold" rating reaffirmed by analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports.

Separately, Barclays increased their price target on shares of InMode from $26.00 to $29.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, InMode has an average rating of "Hold" and a consensus price target of $22.25.

InMode Stock Up 1.6 %

InMode stock traded up $0.24 during trading on Wednesday, reaching $15.12. The stock had a trading volume of 728,715 shares, compared to its average volume of 1,175,886. InMode has a 52-week low of $13.68 and a 52-week high of $19.85. The stock has a market cap of $1.05 billion, a PE ratio of 6.43 and a beta of 1.96. The business has a 50 day moving average price of $18.01 and a 200 day moving average price of $17.67.

Institutional Trading of InMode

Institutional investors have recently bought and sold shares of the company. Orion Capital Management LLC acquired a new position in shares of InMode during the 4th quarter worth approximately $65,000. SBI Securities Co. Ltd. acquired a new position in shares of InMode in the fourth quarter worth $87,000. Farther Finance Advisors LLC lifted its position in shares of InMode by 26.2% in the fourth quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company's stock valued at $93,000 after acquiring an additional 1,154 shares in the last quarter. Covestor Ltd increased its position in InMode by 13.9% during the 4th quarter. Covestor Ltd now owns 5,936 shares of the healthcare company's stock worth $99,000 after purchasing an additional 723 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in InMode by 6,128.7% during the 4th quarter. Lazard Asset Management LLC now owns 6,291 shares of the healthcare company's stock worth $105,000 after purchasing an additional 6,190 shares in the last quarter. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

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.