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

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

Separately, Barclays raised their target price on shares of InMode from $26.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, InMode presently has an average rating of “Hold” and a consensus price target of $22.25.

InMode Stock Performance

NASDAQ INMD traded down $1.44 during trading hours on Wednesday, hitting $14.02. 1,075,974 shares of the company’s stock were exchanged, compared to its average volume of 1,180,496. The business’s 50 day moving average is $18.11 and its 200-day moving average is $17.70. InMode has a 12-month low of $13.86 and a 12-month high of $19.85. The firm has a market capitalization of $975.15 million, a P/E ratio of 5.96 and a beta of 1.96.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of InMode by 13,923.8% during the 1st quarter. GAMMA Investing LLC now owns 2,945 shares of the healthcare company’s stock valued at $520,000 after buying an additional 2,924 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of InMode in the fourth quarter valued at $2,246,000. Orion Capital Management LLC acquired a new stake in InMode during the 4th quarter valued at $65,000. PharVision Advisers LLC purchased a new stake in InMode during the 4th quarter worth $535,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in InMode by 16.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 146,709 shares of the healthcare company’s stock worth $2,450,000 after buying an additional 21,229 shares in the last quarter. Institutional investors and hedge funds 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.