InMode Ltd. (NASDAQ:INMD) Given Consensus Recommendation of “Hold” by Brokerages

InMode Ltd. (NASDAQ:INMD) has received a consensus rating of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $22.40.

A number of research analysts recently commented on 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 price objective on the stock. Barclays decreased their price objective on shares of InMode from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, January 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research note on Thursday, October 31st.

InMode Price Performance

Shares of INMD stock opened at $17.21 on Tuesday. InMode has a 12-month low of $14.87 and a 12-month high of $26.80. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 9.30 and a beta of 2.12. The business has a 50 day simple moving average of $17.54 and a 200 day simple moving average of $17.23.

Institutional Investors Weigh In On InMode

A number of large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC lifted its holdings in InMode by 314.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,550 shares of the healthcare company’s stock worth $60,000 after purchasing an additional 2,694 shares during the last quarter. Quarry LP increased its holdings in shares of InMode by 154.3% during the 3rd quarter. Quarry LP now owns 3,781 shares of the healthcare company’s stock worth $64,000 after purchasing an additional 2,294 shares during the period. National Bank of Canada FI raised its holdings in InMode by 6.2% in the 3rd quarter. National Bank of Canada FI now owns 9,985 shares of the healthcare company’s stock valued at $169,000 after acquiring an additional 579 shares in the last quarter. GW Henssler & Associates Ltd. bought a new stake in InMode in the 3rd quarter valued at $177,000. Finally, DGS Capital Management LLC bought a new position in InMode during the third quarter worth about $182,000. 68.04% of the stock is currently owned by 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.