InMode (INMD) Gets a Buy Rating from Barclays

By Carrie Williams

Barclays analyst Jack Meehan maintained a Buy rating on InMode (INMDResearch Report) today and set a price target of $36.00. The company’s shares closed last Monday at $23.80.

According to TipRanks.com, Meehan is a 4-star analyst with an average return of 2.3% and a 56.6% success rate. Meehan covers the Healthcare sector, focusing on stocks such as Bio-Rad Laboratories, PRA Health Sciences, and Myriad Genetics.

Currently, the analyst consensus on InMode is a Strong Buy with an average price target of $48.00.

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Based on InMode’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $47 million and net profit of $19.04 million. In comparison, last year the company earned revenue of $28.78 million and had a GAAP net loss of $213K.

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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.