Canaccord Genuity Believes InMode (INMD) Won’t Stop Here
Canaccord Genuity analyst Kyle Rose maintained a Buy rating on InMode (INMD) yesterday and set a price target of $95.00. The company’s shares closed last Wednesday at $81.19, close to its 52-week high of $92.38.
According to TipRanks.com, Rose is a 5-star analyst with an average return of 18.1% and a 57.7% success rate. Rose covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Smith & Nephew Snats, and SeaSpine Holdings.
Currently, the analyst consensus on InMode is a Strong Buy with an average price target of $87.67.
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Based on InMode’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $75.19 million and net profit of $36.11 million. In comparison, last year the company earned revenue of $47 million and had a net profit of $19.04 million.
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InMode Ltd. designs, develops, manufactures and markets minimally-invasive aesthetic medical products. It also designs, develops, manufactures and markets non-invasive medical aesthetic products that target a array of procedures including permanent hair reduction, facial skin rejuvenation, wrinkle reduction, cellulite treatment, skin appearance and texture and superficial benign vascular and pigmented lesions. The company was founded by Moshe Mizrahy and Michael Kreindel on January 2, 2008 and is headquartered in Yokneam, Israel.