InMode (NASDAQ:INMD) Trading 6.7% Higher – What’s Next?

InMode Ltd. (NASDAQ:INMD)’s share price traded up 6.7% during trading on Thursday . The company traded as high as $16.15 and last traded at $16.06. 579,501 shares were traded during mid-day trading, a decline of 58% from the average session volume of 1,364,554 shares. The stock had previously closed at $15.05.

Wall Street Analysts Forecast Growth

INMD has been the topic of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of InMode in a report on Thursday. Jefferies Financial Group lowered shares of InMode from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $21.00 to $19.00 in a report on Tuesday, July 23rd. Barclays dropped their target price on shares of InMode from $33.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, Canaccord Genuity Group decreased their price target on shares of InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, InMode has an average rating of “Hold” and a consensus target price of $22.40.

InMode Trading Up 2.1 %

The stock has a market capitalization of $1.39 billion, a P/E ratio of 7.82 and a beta of 2.17. The company has a fifty day simple moving average of $16.24 and a two-hundred day simple moving average of $17.59.

InMode (NASDAQ:INMD) last posted its quarterly earnings results on Thursday, August 1st. The healthcare company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). InMode had a return on equity of 21.00% and a net margin of 35.81%. The business had revenue of $102.60 million for the quarter, compared to the consensus estimate of $104.81 million. During the same period last year, the firm earned $0.65 earnings per share. The company’s quarterly revenue was down 24.6% on a year-over-year basis. As a group, analysts forecast that InMode Ltd. will post 1.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in INMD. Asset Dedication LLC bought a new stake in InMode in the second quarter valued at about $33,000. Headlands Technologies LLC increased its stake in shares of InMode by 118.2% in the 1st quarter. Headlands Technologies LLC now owns 1,916 shares of the healthcare company’s stock valued at $41,000 after acquiring an additional 1,038 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of InMode in the 2nd quarter valued at approximately $42,000. Trust Co. of Vermont raised its position in shares of InMode by 32.8% in the 4th quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock valued at $48,000 after acquiring an additional 536 shares during the period. Finally, Newbridge Financial Services Group Inc. increased its stake in InMode by 69.2% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,200 shares of the healthcare company’s stock valued at $49,000 after purchasing an additional 900 shares in the last quarter. Institutional investors and hedge funds 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.