Fintel reports that on October 17, 2024, BTIG initiated coverage of InMode (NasdaqGS:INMD) with a Buy recommendation.
Analyst Price Forecast Suggests 24.46% Upside
As of September 25, 2024, the average one-year price target for InMode is $21.42/share. The forecasts range from a low of $16.16 to a high of $30.45. The average price target represents an increase of 24.46% from its latest reported closing price of $17.21 / share.
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The projected annual revenue for InMode is 614MM, an increase of 47.26%. The projected annual non-GAAP EPS is 3.07.
What is the Fund Sentiment?
There are 485 funds or institutions reporting positions in InMode. This is an decrease of 23 owner(s) or 4.53% in the last quarter. Average portfolio weight of all funds dedicated to INMD is 0.16%, an increase of 5.07%. Total shares owned by institutions decreased in the last three months by 3.26% to 60,582K shares. 
The put/call ratio of INMD is 0.74, indicating a bullish outlook.
What are Other Shareholders Doing?
FIL holds 2,845K shares representing 3.36% ownership of the company. In its prior filing, the firm reported owning 3,403K shares , representing a decrease of 19.61%. The firm decreased its portfolio allocation in INMD by 60.61% over the last quarter.
Renaissance Technologies holds 2,068K shares representing 2.44% ownership of the company. In its prior filing, the firm reported owning 1,854K shares , representing an increase of 10.36%. The firm increased its portfolio allocation in INMD by 1.61% over the last quarter.
Doma Perpetual Capital Management holds 2,011K shares representing 2.38% ownership of the company. In its prior filing, the firm reported owning 647K shares , representing an increase of 67.81%. The firm increased its portfolio allocation in INMD by 82.82% over the last quarter.
Lsv Asset Management holds 1,857K shares representing 2.19% ownership of the company. In its prior filing, the firm reported owning 1,880K shares , representing a decrease of 1.23%. The firm decreased its portfolio allocation in INMD by 11.71% over the last quarter.
IWM - iShares Russell 2000 ETF holds 1,804K shares representing 2.13% ownership of the company. In its prior filing, the firm reported owning 1,898K shares , representing a decrease of 5.21%. The firm decreased its portfolio allocation in INMD by 12.47% over the last quarter.
Inmode Background Information
(This description is provided by the company.)
InMode is a leading global provider of innovative medical technologies. InMode develops, manufactures, and markets devices harnessing novel radiofrequency ('RF') technology. InMode strives to enable new emerging surgical procedures as well as improve existing treatments. InMode has leveraged its medically accepted minimally-invasive RF technologies to offer a comprehensive line of products across several categories for plastic surgery, gynecology, dermatology, otolaryngology, and ophthalmology.
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