InMode (NASDAQ:INMD) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of InMode (NASDAQ:INMD) in a report published on Thursday morning, Benzinga reports.

Several other equities analysts have also recently weighed in on INMD. Jefferies Financial Group cut shares of InMode from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $21.00 to $19.00 in a research note on Tuesday, July 23rd. BTIG Research assumed coverage on InMode in a report on Thursday, October 17th. They issued a “buy” rating and a $25.00 target price on the stock. Canaccord Genuity Group cut their price target on InMode from $21.00 to $16.00 and set a “hold” rating for the company in a report on Friday, July 12th. Finally, Barclays lowered their price objective on InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $22.60.

InMode Stock Performance

INMD traded up $0.27 during midday trading on Thursday, hitting $17.35. The stock had a trading volume of 226,090 shares, compared to its average volume of 1,341,744. InMode has a 1 year low of $14.87 and a 1 year high of $26.80. The business has a fifty day moving average of $16.63 and a 200 day moving average of $17.35. The company has a market cap of $1.46 billion, a P/E ratio of 9.35 and a beta of 2.17.

InMode (NASDAQ:INMD) last announced its quarterly earnings data on Thursday, August 1st. The healthcare company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.04). The firm had revenue of $102.60 million for the quarter, compared to analysts’ expectations of $104.81 million. InMode had a net margin of 36.26% and a return on equity of 21.04%. The business’s revenue for the quarter was down 24.6% compared to the same quarter last year. During the same period last year, the company posted $0.65 earnings per share. On average, equities research analysts anticipate that InMode will post 1.58 earnings per share for the current year.

Institutional Trading of InMode

Several institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC grew its holdings in InMode by 11.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,068,396 shares of the healthcare company’s stock valued at $37,728,000 after buying an additional 214,200 shares in the last quarter. Doma Perpetual Capital Management LLC grew its position in shares of InMode by 210.7% in the 2nd quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company’s stock valued at $36,685,000 after buying an additional 1,363,841 shares during the last quarter. DDD Partners LLC lifted its stake in InMode by 19.4% in the second quarter. DDD Partners LLC now owns 1,266,678 shares of the healthcare company’s stock valued at $23,104,000 after buying an additional 205,947 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of InMode by 191.9% during the second quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock worth $20,520,000 after buying an additional 739,629 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of InMode by 63.6% during the second quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company’s stock worth $20,502,000 after acquiring an additional 437,122 shares during the period. 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.