InMode (NASDAQ:INMD) Shares Gap Up – Time to Buy?

InMode Ltd. (NASDAQ:INMD)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $13.35, but opened at $14.87. InMode shares last traded at $14.6420, with a volume of 799,315 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on INMD. Robert W. Baird reduced their price target on InMode from $17.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Barclays set a $19.00 price objective on InMode and gave the company an “overweight” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $16.00.

InMode Trading Up 11.0%

The company’s fifty day simple moving average is $13.88 and its 200 day simple moving average is $14.13. The stock has a market capitalization of $851.58 million, a P/E ratio of 10.83 and a beta of 1.94.

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

Institutional Trading of InMode

Several institutional investors and hedge funds have recently modified their holdings of INMD. Leonteq Securities AG purchased a new position in shares of InMode during the fourth quarter worth about $26,000. Quadrant Capital Group LLC raised its stake in InMode by 127.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,945 shares of the healthcare company’s stock valued at $29,000 after purchasing an additional 1,091 shares in the last quarter. Advisory Services Network LLC purchased a new stake in InMode in the third quarter valued at approximately $37,000. Basepoint Wealth LLC bought a new stake in InMode during the fourth quarter valued at approximately $39,000. Finally, Deutsche Bank AG lifted its position in InMode by 35.9% during the fourth quarter. Deutsche Bank AG now owns 3,927 shares of the healthcare company’s stock valued at $58,000 after purchasing an additional 1,037 shares during the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

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.