InMode (NASDAQ:INMD) Shares Gap Down – What’s Next?

InMode Ltd. (NASDAQ:INMD)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $15.12, but opened at $14.46. InMode shares last traded at $15.22, with a volume of 232,062 shares.

Wall Street Analysts Forecast Growth

INMD has been the subject of several recent research reports. Canaccord Genuity Group set a $15.00 target price on shares of InMode and gave the company a “hold” rating in a report on Wednesday, December 17th. Weiss Ratings reissued a “sell (d+)” rating on shares of InMode in a report on Thursday, January 22nd. Wall Street Zen cut InMode from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. UBS Group lowered their price target on InMode from $16.25 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Finally, BTIG Research reissued a “neutral” rating on shares of InMode in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.60.

InMode Trading Up 1.2%

The firm has a fifty day moving average of $14.66 and a 200 day moving average of $14.69. The company has a market capitalization of $966.73 million, a P/E ratio of 7.08 and a beta of 2.19.

InMode (NASDAQ:INMD) last announced its quarterly earnings results on Tuesday, February 10th. The healthcare company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. InMode had a net margin of 41.04% and a return on equity of 14.50%. The firm had revenue of $103.85 million for the quarter, compared to the consensus estimate of $104.64 million. During the same quarter last year, the firm posted $0.42 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Sell-side analysts anticipate that InMode Ltd. will post 1.75 EPS for the current fiscal year.

Institutional Investors Weigh In On InMode

A number of hedge funds have recently modified their holdings of the business. Cooper Creek Partners Management LLC purchased a new position in shares of InMode during the third quarter valued at about $14,980,000. Ancient Art L.P. bought a new position in InMode during the third quarter valued at approximately $14,254,000. Goldman Sachs Group Inc. grew its holdings in 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. Doma Perpetual Capital Management LLC increased its stake in InMode by 26.8% in the 3rd quarter. Doma Perpetual Capital Management LLC now owns 2,838,431 shares of the healthcare company’s stock worth $42,293,000 after acquiring an additional 599,108 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in shares of InMode during the 2nd quarter worth approximately $8,294,000. 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.