BTIG Research Begins Coverage on InMode (NASDAQ:INMD)

by · The Markets Daily

Stock analysts at BTIG Research assumed coverage on shares of InMode (NASDAQ:INMD – Get Free Report) in a report issued on Thursday, Briefing.com reports. The brokerage set a “buy” rating and a $25.00 price target on the healthcare company’s stock. BTIG Research’s target price would suggest a potential upside of 48.10% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group lowered shares of InMode from a “buy” rating to a “hold” rating and lowered their price target for the company from $21.00 to $19.00 in a report on Tuesday, July 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a report on Thursday, October 10th. Canaccord Genuity Group lowered their price target 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. Finally, Barclays lowered their price target on shares of InMode from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Monday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, InMode presently has a consensus rating of “Hold” and a consensus price target of $22.60.

Check Out Our Latest Analysis on InMode

InMode Stock Up 1.4 %

InMode stock opened at $16.88 on Thursday. InMode has a 52-week low of $14.87 and a 52-week high of $26.80. The firm has a fifty day moving average of $16.24 and a 200-day moving average of $17.47. The firm has a market capitalization of $1.42 billion, a P/E ratio of 8.00 and a beta of 2.17.

InMode (NASDAQ:INMD – Get Free Report) last released its quarterly earnings data 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 business had revenue of $102.60 million during the quarter, compared to analyst estimates of $104.81 million. During the same period in the previous year, the company earned $0.65 EPS. InMode’s revenue was down 24.6% on a year-over-year basis. On average, research analysts expect that InMode will post 1.63 EPS for the current fiscal year.

Hedge Funds Weigh In On InMode

Several large investors have recently bought and sold shares of the stock. Unison Advisors LLC acquired a new position in InMode during the 3rd quarter valued at about $675,000. Handelsbanken Fonder AB increased its stake in InMode by 6.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 128,097 shares of the healthcare company’s stock valued at $2,171,000 after buying an additional 8,028 shares during the period. SG Americas Securities LLC increased its stake in InMode by 221.7% during the 3rd quarter. SG Americas Securities LLC now owns 73,611 shares of the healthcare company’s stock valued at $1,248,000 after buying an additional 50,731 shares during the period. Systematic Financial Management LP increased its stake in InMode by 34.5% during the 2nd quarter. Systematic Financial Management LP now owns 866,619 shares of the healthcare company’s stock valued at $15,807,000 after buying an additional 222,532 shares during the period. Finally, Disciplined Growth Investors Inc. MN grew its stake in shares of InMode by 2.9% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 804,958 shares of the healthcare company’s stock worth $14,682,000 after purchasing an additional 22,427 shares during the last quarter. Institutional investors and hedge funds own 68.04% of the company’s stock.

InMode Company Profile

(Get Free Report)

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.

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