InMode (NASDAQ:INMD) Share Price Passes Above 200-Day Moving Average – Here’s Why

InMode Ltd. (NASDAQ:INMD)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.15 and traded as high as $14.66. InMode shares last traded at $14.54, with a volume of 409,945 shares.

Analysts Set New Price Targets

A number of brokerages have weighed in on INMD. Barclays set a $19.00 target price on InMode and gave the company an “overweight” rating in a research report on Thursday, May 7th. Robert W. Baird dropped their price target on InMode from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $16.00.

InMode Stock Up 3.8%

The company has a market cap of $862.77 million, a PE ratio of 11.04 and a beta of 1.91. The firm has a 50 day simple moving average of $13.97 and a 200-day simple moving average of $14.15.

InMode (NASDAQ:INMD) last released its quarterly earnings results on Wednesday, May 6th. The healthcare company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.05). InMode had a net margin of 23.27% and a return on equity of 13.47%. The firm had revenue of $82.02 million for the quarter, compared to analysts’ expectations of $79.84 million. During the same period in the previous year, the company posted $0.31 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year.

Hedge Funds Weigh In On InMode

Several institutional investors and hedge funds have recently bought and sold shares of the company. Steel Partners Holdings L.P. raised 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 worth $24,561,000 after acquiring an additional 1,090,697 shares during the last quarter. Cooper Creek Partners Management LLC acquired a new stake in shares of InMode during the 3rd quarter worth approximately $14,980,000. Ancient Art L.P. purchased a new position in InMode in the third quarter valued at $14,254,000. Millennium Management LLC raised its holdings in InMode by 111.4% in the 4th quarter. Millennium Management LLC now owns 1,778,681 shares of the healthcare company’s stock worth $26,129,000 after purchasing an additional 937,376 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of InMode by 234.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company’s stock valued at $19,935,000 after buying an additional 788,157 shares in the last quarter. 68.04% of the stock is owned by hedge funds and other institutional investors.

InMode Company Profile

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.