InMode Ltd. (NASDAQ:INMD) Short Interest Down 14.9% in February

InMode Ltd. (NASDAQ:INMD) was the recipient of a significant drop in short interest in February. As of February 27th, there was short interest totaling 2,832,008 shares, a drop of 14.9% from the February 12th total of 3,326,199 shares. Currently, 4.8% of the company’s stock are short sold. Based on an average trading volume of 877,478 shares, the days-to-cover ratio is presently 3.2 days. Based on an average trading volume of 877,478 shares, the days-to-cover ratio is presently 3.2 days. Currently, 4.8% of the company’s stock are short sold.

InMode Trading Up 1.6%

INMD stock traded up $0.21 during trading on Tuesday, hitting $13.64. The company had a trading volume of 1,522,493 shares, compared to its average volume of 969,838. The business has a 50 day moving average of $14.33 and a 200 day moving average of $14.61. The firm has a market capitalization of $864.23 million, a price-to-earnings ratio of 9.47 and a beta of 2.18. InMode has a fifty-two week low of $12.72 and a fifty-two week high of $19.09.

InMode (NASDAQ:INMD) last released its quarterly earnings results on Tuesday, February 10th. The healthcare company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The company had revenue of $103.85 million for the quarter, compared to the consensus estimate of $104.64 million. InMode had a net margin of 25.33% and a return on equity of 14.52%. InMode’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS. As a group, equities analysts predict that InMode will post 1.75 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Robert W. Baird set a $17.00 price target on shares of InMode in a report on Wednesday, February 11th. BTIG Research reaffirmed a “neutral” rating on shares of InMode in a research report on Monday, January 26th. Weiss Ratings reiterated a “sell (d+)” rating on shares of InMode in a research note on Thursday, January 22nd. Finally, Canaccord Genuity Group set a $15.00 price target on InMode and gave the company a “hold” rating in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, InMode currently has an average rating of “Hold” and a consensus price target of $16.80.

Hedge Funds Weigh In On InMode

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Leonteq Securities AG acquired a new position in shares of InMode during the 4th quarter valued at $26,000. Quadrant Capital Group LLC boosted its stake in InMode by 127.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,945 shares of the healthcare company’s stock valued at $29,000 after buying an additional 1,091 shares in the last quarter. Advisory Services Network LLC bought a new position in InMode during the third quarter valued at about $37,000. Basepoint Wealth LLC acquired a new position in InMode during the fourth quarter worth about $39,000. Finally, Blue Trust Inc. grew its holdings in InMode by 93.7% during the third quarter. Blue Trust Inc. now owns 2,861 shares of the healthcare company’s stock worth $43,000 after acquiring an additional 1,384 shares during the period. 68.04% of the stock is owned by institutional investors.

About InMode

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.