InMode (NASDAQ:INMD) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of InMode (NASDAQ:INMD) from a sell rating to a buy rating in a report issued on Wednesday morning, Zacks.com reports. They currently have $35.00 price objective on the healthcare company’s stock.

According to Zacks, “InMode Ltd. is a provider of medical technologies. It develops, manufactures and markets devices harnessing novel radio-frequency technology. The company serves plastic surgery, gynecology, dermatology, otolaryngology and ophthalmology. InMode Ltd. is based in Yokneam, Israel. “

A number of other analysts have also recently issued reports on the company. UBS Group decreased their target price on InMode from $46.00 to $42.00 and set a buy rating for the company in a report on Thursday, May 7th. Canaccord Genuity decreased their target price on InMode from $50.00 to $40.00 and set a buy rating for the company in a report on Thursday, May 7th. Five equities research analysts have rated the stock with a buy rating, InMode presently has an average rating of Buy and an average target price of $41.60.

Shares of NASDAQ:INMD traded down $0.48 during midday trading on Wednesday, hitting $31.51. 295,000 shares of the stock were exchanged, compared to its average volume of 1,142,460. InMode has a twelve month low of $13.14 and a twelve month high of $58.76. The stock has a market cap of $1.00 billion and a P/E ratio of 25.41. The company has a 50 day moving average price of $30.85 and a 200-day moving average price of $29.91.

InMode (NASDAQ:INMD) last issued its earnings results on Wednesday, August 5th. The healthcare company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.43. InMode had a return on equity of 27.15% and a net margin of 31.76%. The business had revenue of $30.80 million during the quarter, compared to analysts’ expectations of $30.41 million. The company’s revenue was down 20.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that InMode will post 0.3 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in INMD. FMR LLC lifted its position in InMode by 664,492.9% during the 2nd quarter. FMR LLC now owns 657,947 shares of the healthcare company’s stock worth $18,634,000 after acquiring an additional 657,848 shares in the last quarter. Gluskin Sheff & Assoc Inc. acquired a new position in InMode during the 2nd quarter worth approximately $18,492,000. Nantahala Capital Management LLC lifted its position in InMode by 94.3% during the 2nd quarter. Nantahala Capital Management LLC now owns 511,856 shares of the healthcare company’s stock worth $14,496,000 after acquiring an additional 248,357 shares in the last quarter. Phoenix Holdings Ltd. raised its position in shares of InMode by 784.6% in the 2nd quarter. Phoenix Holdings Ltd. now owns 258,368 shares of the healthcare company’s stock valued at $6,939,000 after purchasing an additional 229,161 shares in the last quarter. Finally, Ibex Investors LLC acquired a new position in shares of InMode in the 2nd quarter valued at approximately $5,551,000. 16.14% of the stock is currently owned by hedge funds and other institutional investors.

InMode Company Profile

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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