InMode's (INMD) "Hold" Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of InMode (NASDAQ:INMD - Free Report) in a report released on Tuesday,Benzinga reports.

Other equities analysts also recently issued reports about the stock. BTIG Research began coverage on shares of InMode in a research note on Thursday, October 17th. They set a "buy" rating and a $25.00 target price on the stock. Barclays reduced their price target on shares of InMode from $27.00 to $26.00 and set an "overweight" rating on the stock in a research report on Thursday, January 9th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, InMode presently has an average rating of "Hold" and a consensus target price of $23.00.

InMode Stock Performance

Shares of INMD stock traded down $0.21 during trading hours on Tuesday, reaching $18.04. The company had a trading volume of 1,219,972 shares, compared to its average volume of 929,460. InMode has a 12-month low of $14.87 and a 12-month high of $26.80. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 9.75 and a beta of 2.13. The stock has a fifty day moving average of $17.39 and a 200-day moving average of $17.21.

Institutional Investors Weigh In On InMode

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its position in shares of InMode by 221.7% during the third quarter. SG Americas Securities LLC now owns 73,611 shares of the healthcare company's stock worth $1,248,000 after acquiring an additional 50,731 shares during the period. Handelsbanken Fonder AB increased its holdings in InMode by 6.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 128,097 shares of the healthcare company's stock worth $2,171,000 after purchasing an additional 8,028 shares during the period. Unison Advisors LLC acquired a new stake in InMode in the 3rd quarter valued at about $675,000. Inspire Advisors LLC boosted its stake in shares of InMode by 45.5% in the 3rd quarter. Inspire Advisors LLC now owns 31,192 shares of the healthcare company's stock valued at $529,000 after buying an additional 9,759 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in shares of InMode by 314.7% during the third quarter. Nisa Investment Advisors LLC now owns 3,550 shares of the healthcare company's stock worth $60,000 after buying an additional 2,694 shares in the last quarter. 68.04% of the stock is currently owned by institutional investors and hedge funds.

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.