InMode (NASDAQ:INMD) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

InMode (NASDAQ:INMD) issued its quarterly earnings results on Wednesday. The healthcare company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02, FiscalAI reports. The firm had revenue of $95.59 million for the quarter, compared to analyst estimates of $93.05 million. InMode had a net margin of 23.27% and a return on equity of 13.47%. InMode’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the company posted $0.47 EPS.

InMode Stock Down 1.1%

INMD stock traded down $0.17 on Wednesday, reaching $15.21. 227,378 shares of the company’s stock were exchanged, compared to its average volume of 919,184. The stock has a fifty day moving average of $14.44 and a 200-day moving average of $14.23. The firm has a market cap of $873.98 million, a PE ratio of 11.18 and a beta of 1.89. InMode has a twelve month low of $12.72 and a twelve month high of $16.74.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in shares of InMode by 5.7% in the 1st quarter. Royal Bank of Canada now owns 242,398 shares of the healthcare company’s stock worth $4,299,000 after acquiring an additional 13,032 shares during the period. AQR Capital Management LLC acquired a new position in shares of InMode during the 1st quarter worth $317,000. Goldman Sachs Group Inc. raised its stake 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 worth $19,935,000 after buying an additional 788,157 shares during the last quarter. American Century Companies Inc. grew its stake in InMode by 132.9% in the 2nd quarter. American Century Companies Inc. now owns 44,240 shares of the healthcare company’s stock valued at $639,000 after acquiring an additional 25,246 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in InMode by 270.7% during the 2nd quarter. Marshall Wace LLP now owns 555,573 shares of the healthcare company’s stock valued at $8,022,000 after acquiring an additional 405,707 shares in the last quarter. 68.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

INMD has been the subject of several analyst reports. Barclays set a $19.00 target price on InMode and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Robert W. Baird lowered their price target on shares of InMode from $17.00 to $14.00 and set a “neutral” rating for the company in a 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $16.00.

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.