Steward Partners Investment Advisory LLC purchased a new position in InMode Ltd. (NASDAQ:INMD) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,700 shares of the healthcare company’s stock, valued at approximately $122,000.
Separately, Optimum Investment Advisors bought a new stake in InMode in the 3rd quarter worth $28,000. 0.55% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on INMD shares. Robert W. Baird reissued an “outperform” rating and issued a $45.00 price target (up previously from $27.00) on shares of InMode in a report on Wednesday. Zacks Investment Research raised shares of InMode from a “hold” rating to a “strong-buy” rating and set a $45.00 price target on the stock in a report on Friday. Canaccord Genuity started coverage on shares of InMode in a report on Tuesday, September 3rd. They issued a “buy” rating and a $30.00 price target on the stock. Barclays raised their price target on shares of InMode from $27.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, UBS Group started coverage on shares of InMode in a report on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 price target on the stock. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $38.60.
InMode (NASDAQ:INMD) last announced its quarterly earnings results on Tuesday, November 5th. The healthcare company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.13. The company had revenue of $40.01 million during the quarter, compared to the consensus estimate of $35.74 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The business’s revenue was up 57.4% compared to the same quarter last year. As a group, research analysts forecast that InMode Ltd. will post 1.38 earnings per share for the current year.
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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