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 research report released on Thursday, Benzinga reports.

A number of other brokerages also recently commented on INMD. Jefferies Financial Group downgraded shares of InMode from a "buy" rating to a "hold" rating and reduced their target price for the stock from $21.00 to $19.00 in a report on Tuesday, July 23rd. Canaccord Genuity Group reduced their target price on shares of InMode from $21.00 to $16.00 and set a "hold" rating for the company in a report on Friday, July 12th. Barclays reduced their target price on shares of InMode from $29.00 to $27.00 and set an "overweight" rating for the company in a report on Monday, October 14th. Finally, BTIG Research assumed coverage on InMode in a research note on Thursday, October 17th. They set a "buy" rating and a $25.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, InMode presently has an average rating of "Hold" and a consensus target price of $22.60.

InMode Stock Down 4.4 %

Shares of INMD stock traded down $0.79 on Thursday, hitting $17.08. The stock had a trading volume of 1,136,852 shares, compared to its average volume of 1,347,031. The business has a 50 day moving average price of $16.63 and a 200 day moving average price of $17.35. The company has a market cap of $1.43 billion, a PE ratio of 9.23 and a beta of 2.17. InMode has a one year low of $14.87 and a one year high of $26.80.

InMode (NASDAQ:INMD - Get Free Report) last announced its earnings results on Thursday, August 1st. The healthcare company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.04). The firm had revenue of $102.60 million during the quarter, compared to the consensus estimate of $104.81 million. InMode had a return on equity of 21.00% and a net margin of 35.81%. The business's revenue for the quarter was down 24.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 earnings per share. Equities research analysts expect that InMode will post 1.58 EPS for the current year.

Institutional Investors Weigh In On InMode

A number of large investors have recently bought and sold shares of the company. Asset Dedication LLC acquired a new position in InMode in the second quarter valued at approximately $33,000. Headlands Technologies LLC lifted its holdings 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 acquiring an additional 1,038 shares during the period. nVerses Capital LLC acquired a new position in InMode in the second quarter valued at approximately $42,000. Nisa Investment Advisors LLC lifted its holdings in InMode by 314.7% in the third quarter. Nisa Investment Advisors LLC now owns 3,550 shares of the healthcare company's stock valued at $60,000 after acquiring an additional 2,694 shares during the period. Finally, EMC Capital Management acquired a new position in InMode in the first quarter valued at approximately $90,000. Hedge funds and other institutional investors own 68.04% of the company's stock.

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.