InMode Ltd. (NASDAQ:INMD) shares rose 3.9% during mid-day trading on Tuesday . The stock traded as high as $58.76 and last traded at $54.26, approximately 29,950 shares changed hands during mid-day trading. A decline of 98% from the average daily volume of 1,302,741 shares. The stock had previously closed at $52.23.
INMD has been the subject of several research reports. Barclays upped their target price on InMode from $27.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Zacks Investment Research raised InMode from a “hold” rating to a “strong-buy” rating and set a $45.00 target price for the company in a research note on Friday, November 8th. Canaccord Genuity initiated coverage on InMode in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $30.00 target price for the company. UBS Group initiated coverage on InMode in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 target price for the company. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $45.00 target price (up previously from $27.00) on shares of InMode in a research note on Wednesday, November 6th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. InMode presently has a consensus rating of “Buy” and an average price target of $38.60.
The company has a quick ratio of 7.47, a current ratio of 7.83 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average is $32.28.
A number of hedge funds have recently made changes to their positions in the business. Optimum Investment Advisors bought a new stake in InMode in the third quarter valued at approximately $28,000. Patriot Financial Group Insurance Agency LLC bought a new stake in InMode in the third quarter valued at approximately $32,000. Tower Research Capital LLC TRC bought a new stake in InMode in the third quarter valued at approximately $43,000. Steward Partners Investment Advisory LLC bought a new stake in InMode in the third quarter valued at approximately $122,000. Finally, D.A. Davidson & CO. bought a new stake in InMode in the third quarter valued at approximately $273,000. Hedge funds and other institutional investors own 1.63% of the company’s stock.
InMode Company Profile (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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