Shares of InMode Ltd. (NASDAQ:INMD) were up 14.6% during mid-day trading on Monday . The stock traded as high as $22.50 and last traded at $22.17, approximately 886,248 shares changed hands during mid-day trading. A decline of 44% from the average daily volume of 1,585,495 shares. The stock had previously closed at $19.35.
A number of equities analysts recently weighed in on the stock. Barclays reduced their target price on shares of InMode from $48.00 to $36.00 and set an “overweight” rating for the company in a research note on Thursday, March 26th. Canaccord Genuity reissued a “buy” rating and set a $50.00 price target on shares of InMode in a research report on Wednesday, February 19th. Zacks Investment Research raised shares of InMode from a “hold” rating to a “strong-buy” rating and set a $45.00 target price on the stock in a report on Friday, February 21st. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $55.00 target price (up from $45.00) on shares of InMode in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. InMode has a consensus rating of “Buy” and an average target price of $42.80.
The company’s 50 day moving average price is $27.42 and its 200-day moving average price is $35.52. The stock has a market cap of $618.62 million and a P/E ratio of 13.86.
Hedge funds and other institutional investors have recently modified their holdings of the company. Jacobi Capital Management LLC acquired a new position in shares of InMode during the fourth quarter valued at about $25,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of InMode in the fourth quarter valued at approximately $63,000. Trustcore Financial Services LLC bought a new stake in InMode during the 4th quarter worth approximately $66,000. Quantbot Technologies LP bought a new stake in InMode during the 4th quarter worth approximately $87,000. Finally, Ladenburg Thalmann Financial Services Inc. purchased a new position in InMode in the 4th quarter worth approximately $98,000. Hedge funds and other institutional investors own 11.24% of the company’s stock.
About InMode (NASDAQ:INMD)
InMode Ltd. designs, develops, manufactures, and markets minimally-invasive aesthetic medical products based on its proprietary radio frequency assisted lipolysis and deep subdermal fractional radio frequency technologies. The company offers minimally-invasive aesthetic medical products for procedures, such as liposuction with simultaneous skin tightening, body and face contouring, and ablative skin rejuvenation treatments.
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