InMode’s (INMD) Hold Rating Reaffirmed at Needham & Company LLC

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

INMD has been the subject of several other research reports. BTIG Research assumed coverage on shares of InMode in a research note on Thursday, October 17th. They issued a “buy” rating and a $25.00 target price for the company. Barclays reduced their price objective on InMode from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, January 9th. Four 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.com, InMode currently has an average rating of “Hold” and an average price target of $23.00.

InMode Price Performance

NASDAQ:INMD opened at $18.25 on Tuesday. InMode has a one year low of $14.87 and a one year high of $26.80. The company has a fifty day moving average price of $17.41 and a 200 day moving average price of $17.20. The stock has a market cap of $1.53 billion, a P/E ratio of 9.86 and a beta of 2.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INMD. National Bank of Canada FI grew its stake in shares of 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 purchasing an additional 579 shares during the period. Harvey Capital Management Inc. grew its position in InMode by 1.4% in the fourth quarter. Harvey Capital Management Inc. now owns 51,490 shares of the healthcare company’s stock valued at $860,000 after acquiring an additional 700 shares during the period. Carmel Capital Partners LLC grew its position in InMode by 6.9% in the third quarter. Carmel Capital Partners LLC now owns 11,511 shares of the healthcare company’s stock valued at $195,000 after acquiring an additional 741 shares during the period. Franklin Resources Inc. raised its stake in InMode by 4.6% during the third quarter. Franklin Resources Inc. now owns 17,559 shares of the healthcare company’s stock worth $292,000 after acquiring an additional 768 shares in the last quarter. Finally, Meritage Portfolio Management lifted its holdings in shares of InMode by 9.5% during the third quarter. Meritage Portfolio Management now owns 14,765 shares of the healthcare company’s stock valued at $250,000 after acquiring an additional 1,284 shares during the period. Institutional investors own 68.04% of the company’s stock.

InMode Company Profile

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.