InMode (NASDAQ:INMD) Shares Gap Up – What’s Next?
by Renee Jackson · The Cerbat GemInMode Ltd. (NASDAQ:INMD – Get Free Report)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $13.35, but opened at $14.87. InMode shares last traded at $14.6420, with a volume of 799,315 shares.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the stock. Barclays set a $19.00 price objective on shares of InMode and gave the company an “overweight” rating in a research report on Thursday, May 7th. Robert W. Baird reduced their target price on InMode from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.00.
Get Our Latest Report on InMode
InMode Stock Up 11.0%
The firm has a market capitalization of $851.58 million, a P/E ratio of 10.83 and a beta of 1.94. The business’s 50-day simple moving average is $13.88 and its 200 day simple moving average is $14.13.
InMode (NASDAQ:INMD – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The healthcare company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). InMode had a return on equity of 13.47% and a net margin of 23.27%.The business had revenue of $82.02 million during the quarter, compared to the consensus estimate of $79.84 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year.
Institutional Trading of InMode
Several hedge funds have recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D boosted its position in InMode by 612.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 96,120 shares of the healthcare company’s stock valued at $1,432,000 after buying an additional 82,621 shares during the period. Doma Perpetual Capital Management LLC increased its holdings in shares of InMode by 26.8% in the third quarter. Doma Perpetual Capital Management LLC now owns 2,838,431 shares of the healthcare company’s stock worth $42,293,000 after buying an additional 599,108 shares during the period. Topline Capital Management LLC increased its holdings in shares of InMode by 2,296.8% in the third quarter. Topline Capital Management LLC now owns 264,770 shares of the healthcare company’s stock worth $3,945,000 after buying an additional 253,723 shares during the period. Ancient Art L.P. bought a new stake in shares of InMode in the 3rd quarter valued at about $14,254,000. Finally, DGS Capital Management LLC lifted its stake in shares of InMode by 127.7% in the 4th quarter. DGS Capital Management LLC now owns 79,613 shares of the healthcare company’s stock valued at $1,170,000 after acquiring an additional 44,654 shares during the last quarter. 68.04% of the stock is owned by institutional investors.
About InMode
InMode Ltd. (NASDAQ:INMD) is a medical technology company headquartered in Israel that develops, manufactures and markets devices for aesthetic and medical treatments. The company specializes in energy-based technologies, primarily radiofrequency platforms, designed to deliver minimally-invasive and non-invasive procedures.
InMode’s product portfolio encompasses a range of modular systems targeting body contouring, facial rejuvenation, skin tightening and other cosmetic applications. Key offerings include devices built on proprietary radiofrequency and radiofrequency-assisted lipolysis, enabling physicians to perform treatments such as tissue coagulation, skin resurfacing and subdermal volumizing with reduced downtime.
The company distributes its technologies through direct sales operations and distribution partners, serving medical professionals across multiple geographies including North America, Europe, Asia Pacific and Latin America.