Short Interest in InMode Ltd. (NASDAQ:INMD) Decreases By 5.7%

InMode Ltd. (NASDAQ:INMD) was the target of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 6,590,000 shares, a decrease of 5.7% from the May 31st total of 6,990,000 shares. Based on an average daily volume of 1,270,000 shares, the days-to-cover ratio is presently 5.2 days.

Analyst Ratings Changes

Several research analysts have recently weighed in on INMD shares. Needham & Company LLC restated a “hold” rating on shares of InMode in a research note on Friday, May 3rd. Barclays reduced their price objective on shares of InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.80.

InMode Stock Up 0.4 %

InMode stock traded up $0.07 during trading hours on Wednesday, hitting $17.48. 902,336 shares of the company traded hands, compared to its average volume of 1,447,743. InMode has a 1-year low of $16.72 and a 1-year high of $48.25. The firm’s 50-day simple moving average is $18.23 and its two-hundred day simple moving average is $20.44. The firm has a market cap of $1.47 billion, a P/E ratio of 8.28 and a beta of 2.18.

InMode (NASDAQ:INMD) last announced its earnings results on Thursday, May 2nd. The healthcare company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.32 by $0.09. The company had revenue of $80.28 million during the quarter, compared to analysts’ expectations of $80.10 million. InMode had a net margin of 38.84% and a return on equity of 26.15%. On average, equities research analysts predict that InMode will post 1.8 earnings per share for the current year.

Hedge Funds Weigh In On InMode

Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in InMode by 14.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 203,590 shares of the healthcare company’s stock valued at $6,201,000 after purchasing an additional 25,391 shares during the period. Rhumbline Advisers lifted its holdings in InMode by 5.0% during the 3rd quarter. Rhumbline Advisers now owns 104,448 shares of the healthcare company’s stock valued at $3,181,000 after purchasing an additional 4,962 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in InMode by 45.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 164,928 shares of the healthcare company’s stock valued at $5,024,000 after purchasing an additional 51,181 shares during the last quarter. Stifel Financial Corp lifted its holdings in InMode by 4.9% during the 3rd quarter. Stifel Financial Corp now owns 85,186 shares of the healthcare company’s stock valued at $2,595,000 after purchasing an additional 3,995 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of InMode by 228.2% during the third quarter. Qube Research & Technologies Ltd now owns 296,228 shares of the healthcare company’s stock worth $9,023,000 after buying an additional 205,980 shares in the last quarter. Institutional investors own 68.04% of the company’s stock.

About InMode

InMode Ltd. designs, develops, manufactures, and markets minimally invasive aesthetic medical products based on its proprietary radiofrequency assisted lipolysis and deep subdermal fractional radiofrequency technologies in the United States and internationally. The company offers minimally invasive aesthetic medical products for various procedures, such as liposuction with simultaneous skin tightening, body and face contouring, and ablative skin rejuvenation treatments, as well as for use in women's health conditions and procedures.