InMode (NASDAQ:INMD) Stock Price Up 3.6% – Should You Buy?

InMode Ltd. (NASDAQ:INMD)’s share price rose 3.6% during trading on Thursday . The stock traded as high as $18.75 and last traded at $18.81. Approximately 41,002 shares changed hands during trading, a decline of 96% from the average daily volume of 942,719 shares. The stock had previously closed at $18.16.

Analyst Upgrades and Downgrades

INMD has been the subject of several recent analyst reports. Barclays lifted their price target on InMode from $26.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $22.25.

InMode Stock Performance

The firm has a 50-day moving average price of $17.93 and a 200-day moving average price of $17.59. The stock has a market cap of $1.27 billion, a PE ratio of 7.79 and a beta of 2.07.

Institutional Investors Weigh In On InMode

Large investors have recently bought and sold shares of the business. Orion Capital Management LLC bought a new stake in InMode in the 4th quarter worth about $65,000. Quarry LP grew its stake in shares of InMode by 154.3% during the 3rd quarter. Quarry LP now owns 3,781 shares of the healthcare company’s stock valued at $64,000 after purchasing an additional 2,294 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of InMode during the 4th quarter valued at about $87,000. Farther Finance Advisors LLC grew its stake in shares of InMode by 26.2% during the 4th quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company’s stock valued at $93,000 after purchasing an additional 1,154 shares during the period. Finally, Covestor Ltd grew its stake in shares of InMode by 13.9% during the 4th quarter. Covestor Ltd now owns 5,936 shares of the healthcare company’s stock valued at $99,000 after purchasing an additional 723 shares during the period. 68.04% of the stock is currently owned by institutional investors.

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.