InMode (NASDAQ:INMD) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

InMode Ltd. (NASDAQ:INMD)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.31 and traded as high as $14.51. InMode shares last traded at $14.50, with a volume of 336,472 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of InMode in a research report on Thursday, August 6th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, InMode presently has a consensus rating of “Hold” and a consensus target price of $16.00.

InMode Trading Down 1.8%

The business has a 50 day moving average price of $15.04 and a 200-day moving average price of $14.32. The firm has a market capitalization of $815.64 million, a PE ratio of 11.54 and a beta of 1.86.

InMode (NASDAQ:INMD) last posted its quarterly earnings results on Wednesday, August 5th. The healthcare company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The firm had revenue of $95.59 million for the quarter, compared to the consensus estimate of $94.89 million. InMode had a return on equity of 11.99% and a net margin of 20.69%.The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 earnings per share.

Institutional Trading of InMode

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its holdings in InMode by 6.1% in the first quarter. Renaissance Technologies LLC now owns 2,586,218 shares of the healthcare company’s stock valued at $35,379,000 after buying an additional 149,800 shares in the last quarter. Steel Partners Holdings L.P. increased its stake in InMode by 154.8% in the 1st quarter. Steel Partners Holdings L.P. now owns 1,795,361 shares of the healthcare company’s stock valued at $24,561,000 after purchasing an additional 1,090,697 shares in the last quarter. Systematic Financial Management LP raised its holdings in InMode by 6.7% during the first quarter. Systematic Financial Management LP now owns 1,154,457 shares of the healthcare company’s stock worth $15,793,000 after purchasing an additional 72,041 shares during the last quarter. Janus Henderson Group PLC boosted its position in InMode by 5.0% during the first quarter. Janus Henderson Group PLC now owns 932,132 shares of the healthcare company’s stock worth $12,752,000 after purchasing an additional 44,575 shares in the last quarter. Finally, Meros Investment Management LP boosted its position in InMode by 10.0% during the fourth quarter. Meros Investment Management LP now owns 404,453 shares of the healthcare company’s stock worth $5,941,000 after purchasing an additional 36,866 shares in the last quarter. Institutional investors and hedge funds own 68.04% of the company’s stock.

InMode Company Profile

InMode Ltd. (NASDAQ: INMD) is an Israel-based medical technology company that develops, manufactures and markets energy-based platforms for minimally invasive and non-invasive aesthetic and medical treatments. Its technologies are designed for use by physicians and other healthcare professionals in areas including facial rejuvenation, skin resurfacing, body contouring, hair removal and women’s health.

The company’s product portfolio includes radiofrequency-based systems such as BodyTite and FaceTite for tissue remodeling and contouring, Morpheus8 for fractional skin treatment, and multi-application platforms such as EmpowerRF and Optimas.