5 Cheap Healthcare Stocks To Invest In

3. InMode Ltd. (NASDAQ:INMD)

Price as of October 3: $30.23

InMode Ltd. (NASDAQ:INMD) is an Israeli medical devices company that manufactures and sells minimally invasive aesthetic medical products.

InMode Ltd. (NASDAQ:INMD) has sustained over 80% gross margins for the past few years and the TTM FCF was 45% of the revenue at $181 million. Furthermore, the company’s future revenue growth also seems to be stable as the management claims that it serves 100,000+ customers in the US and 200,000+ internationally. In addition, the company holds solid pricing power due to its Radiofrequency Assisted Lipolysis, a fat loss procedure, which doesn’t have much competition in the market.

As of the second quarter of 2022, 27 hedge funds held positions in InMode Ltd. (NASDAQ:INMD). Jim Simons’ Renaissance Technologies was the most prominent stakeholder in the company with over 3.1 million shares, worth $69.477 million.