Brokerages Set InMode Ltd. (NASDAQ:INMD) Target Price at $22.40

Shares of InMode Ltd. (NASDAQ:INMD - Get Free Report) have been assigned a consensus rating of "Hold" from the six brokerages that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $22.40.

A number of research analysts have issued reports on INMD shares. Barclays decreased their target price on InMode from $33.00 to $29.00 and set an "overweight" rating on the stock in a research report on Monday, July 15th. Canaccord Genuity Group dropped their price objective on shares of InMode from $21.00 to $16.00 and set a "hold" rating for the company in a research note on Friday, July 12th. Needham & Company LLC reiterated a "hold" rating on shares of InMode in a report on Thursday, July 11th. Finally, Jefferies Financial Group downgraded InMode from a "buy" rating to a "hold" rating and cut their price objective for the company from $21.00 to $19.00 in a report on Tuesday, July 23rd.

Hedge Funds Weigh In On InMode

A number of hedge funds have recently modified their holdings of INMD. Principal Securities Inc. bought a new position in shares of InMode in the 4th quarter worth about $32,000. Asset Dedication LLC bought a new stake in InMode in the second quarter worth approximately $33,000. Headlands Technologies LLC lifted its stake in InMode by 118.2% in the first quarter. Headlands Technologies LLC now owns 1,916 shares of the healthcare company's stock valued at $41,000 after buying an additional 1,038 shares during the period. nVerses Capital LLC acquired a new stake in shares of InMode during the 2nd quarter worth approximately $42,000. Finally, Trust Co. of Vermont increased its stake in shares of InMode by 32.8% in the 4th quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company's stock valued at $48,000 after acquiring an additional 536 shares in the last quarter. Institutional investors and hedge funds own 68.04% of the company's stock.

InMode Trading Down 1.3 %

NASDAQ INMD traded down $0.21 during trading on Wednesday, reaching $16.44. The company's stock had a trading volume of 945,202 shares, compared to its average volume of 1,363,130. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 7.81 and a beta of 2.17. InMode has a 12 month low of $15.39 and a 12 month high of $33.62. The firm has a 50 day moving average price of $16.70 and a 200 day moving average price of $18.01.

InMode (NASDAQ:INMD - Get Free Report) last released its earnings results on Thursday, August 1st. The healthcare company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.04). InMode had a return on equity of 21.00% and a net margin of 35.81%. The company had revenue of $102.60 million for the quarter, compared to analyst estimates of $104.81 million. During the same period last year, the company posted $0.65 earnings per share. The business's revenue for the quarter was down 24.6% compared to the same quarter last year. On average, equities analysts forecast that InMode will post 1.63 EPS for the current fiscal year.

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.