InMode (NASDAQ:INMD) Issues Earnings Results

InMode (NASDAQ:INMD) released its earnings results on Wednesday. The healthcare company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02, FiscalAI reports. The firm had revenue of $95.59 million during 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%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 earnings per share.

InMode Stock Performance

Shares of INMD traded down $0.23 during midday trading on Wednesday, hitting $15.14. 213,491 shares of the stock traded hands, compared to its average volume of 919,160. The business’s 50 day moving average price is $14.44 and its two-hundred day moving average price is $14.23. The firm has a market capitalization of $870.48 million, a PE ratio of 11.14 and a beta of 1.89. InMode has a 1-year low of $12.72 and a 1-year high of $16.74.

Institutional Trading of InMode

Hedge funds have recently bought and sold shares of the company. Cooper Creek Partners Management LLC bought a new position in InMode in the 3rd quarter worth about $14,980,000. Millennium Management LLC boosted its position in shares of InMode by 111.4% during the fourth quarter. Millennium Management LLC now owns 1,778,681 shares of the healthcare company’s stock worth $26,129,000 after buying an additional 937,376 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of InMode by 234.9% during the first 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 period. Steel Partners Holdings L.P. bought a new position in InMode in the 4th quarter worth approximately $10,352,000. Finally, Bank of America Corp DE increased its position in InMode by 142.1% in the 2nd quarter. Bank of America Corp DE now owns 862,209 shares of the healthcare company’s stock valued at $12,450,000 after acquiring an additional 506,134 shares during the period. 68.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Barclays set a $19.00 price target on shares of InMode and gave the company an “overweight” rating in a report on Thursday, May 7th. Robert W. Baird dropped their price objective on shares of InMode from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. One research 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 stock has an average rating of “Hold” and a consensus price target of $16.00.

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.