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

InMode Ltd. (NASDAQ:INMD) gapped up prior to trading on Friday . The stock had previously closed at $12.76, but opened at $13.71. InMode shares last traded at $13.5850, with a volume of 653,419 shares changing hands.

Wall Street Analysts Forecast Growth

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

InMode Stock Up 6.1%

The firm has a 50 day simple moving average of $14.40 and a two-hundred day simple moving average of $14.63. The stock has a market capitalization of $857.89 million, a P/E ratio of 9.40 and a beta of 2.18.

InMode (NASDAQ:INMD) last issued its earnings results on Tuesday, February 10th. The healthcare company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. InMode had a return on equity of 14.52% and a net margin of 25.33%.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 business posted $0.42 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. On average, research analysts predict that InMode Ltd. will post 1.75 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Doma Perpetual Capital Management LLC raised its stake in InMode by 26.8% during the third 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 in the last quarter. Millennium Management LLC boosted its stake in shares of InMode by 111.4% in the 4th quarter. Millennium Management LLC now owns 1,778,681 shares of the healthcare company’s stock valued at $26,129,000 after purchasing an additional 937,376 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of InMode by 48.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,422,635 shares of the healthcare company’s stock valued at $20,899,000 after purchasing an additional 466,891 shares during the last quarter. Systematic Financial Management LP increased its position in InMode by 3.9% during the 2nd quarter. Systematic Financial Management LP now owns 1,090,971 shares of the healthcare company’s stock worth $15,754,000 after purchasing an additional 41,363 shares in the last quarter. Finally, Cooper Creek Partners Management LLC acquired a new position in InMode during the 3rd quarter worth approximately $14,980,000. 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.