InMode (NASDAQ:INMD) Shares Up 6.2%

Shares of InMode Ltd. (NASDAQ:INMD) shot up 6.2% during mid-day trading on Monday . The stock traded as high as $28.10 and last traded at $27.57, 875,900 shares traded hands during mid-day trading. A decline of 5% from the average session volume of 921,098 shares. The stock had previously closed at $25.95.

Several brokerages have issued reports on INMD. Canaccord Genuity began coverage on shares of InMode in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $30.00 price target on the stock. Robert W. Baird initiated coverage on shares of InMode in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $27.00 price objective on the stock. UBS Group initiated coverage on shares of InMode in a research note on Tuesday, September 3rd. They set a “buy” rating and a $28.00 price objective on the stock. Finally, Barclays initiated coverage on shares of InMode in a research note on Tuesday, September 3rd. They set an “overweight” rating and a $27.00 price objective on the stock.

The firm has a 50 day moving average price of $25.00.

InMode (NASDAQ:INMD) last released its quarterly earnings data on Tuesday, August 13th. The healthcare company reported $0.45 earnings per share for the quarter. The firm had revenue of $38.80 million for the quarter. As a group, sell-side analysts expect that InMode Ltd. will post 1.38 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in InMode stock. Optimum Investment Advisors acquired a new position in shares of InMode Ltd. (NASDAQ:INMD) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,300 shares of the healthcare company’s stock, valued at approximately $28,000. Institutional investors and hedge funds own 0.54% of the company’s stock.

About InMode (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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