5 Best Medical Device Stocks To Buy Now

3. InMode Ltd. (NASDAQ:INMD)

Forward P/E ratio as of December 10: 13.91

Number of Hedge Fund Holders: 30

Founded in 2008, InMode Ltd. (NASDAQ:INMD) provides energy-based, minimally invasive surgical and medical treatment solutions. The categories that are addressed by the products of InMode Ltd. (NASDAQ:INMD) are face and body contouring, women’s health, and medical aesthetics. The majority of the revenue of InMode Ltd. (NASDAQ:INMD) comes from the United States.

On October 12, 2022, Matthew Taylor, an analyst at Jefferies, started covering InMode Ltd. (NASDAQ:INMD) with a price target of $40 and a Buy rating on the shares. The analyst believes that InMode Ltd. (NASDAQ:INMD) is a market leader in the aesthetic market and will continue to grow owing to its best-in-class technologies.

As per Insider Monkey’s database, 30 hedge funds remained bullish on InMode Ltd. (NASDAQ:INMD) at the end of the third quarter. Renaissance Technologies had the biggest stake in the company at the end of the third quarter.