Needham Initiates a Buy Rating on InMode (INMD)
InMode (INMD) received a Buy rating and a $94.00 price target from Needham analyst Michael Matson today. The company’s shares closed last Monday at $74.74.
According to TipRanks.com, Matson is a 5-star analyst with an average return of 15.4% and a 66.1% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Zimmer Biomet Holdings, and Cardiovascular Systems.
Currently, the analyst consensus on InMode is a Strong Buy with an average price target of $97.67, implying a 32.7% upside from current levels. In a report issued on May 5, Canaccord Genuity also maintained a Buy rating on the stock with a $95.00 price target.
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The company has a one-year high of $92.38 and a one-year low of $24.76. Currently, InMode has an average volume of 785.2K.
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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.