InMode (NASDAQ:INMD) Trading Up 14.6%

Shares of InMode Ltd. (NASDAQ:INMD) were up 14.6% during mid-day trading on Monday . The stock traded as high as $22.50 and last traded at $22.17, approximately 886,248 shares changed hands during mid-day trading. A decline of 44% from the average daily volume of 1,585,495 shares. The stock had previously closed at $19.35.

A number of equities analysts recently weighed in on the stock. Barclays reduced their target price on shares of InMode from $48.00 to $36.00 and set an “overweight” rating for the company in a research note on Thursday, March 26th. Canaccord Genuity reissued a “buy” rating and set a $50.00 price target on shares of InMode in a research report on Wednesday, February 19th. Zacks Investment Research raised shares of InMode from a “hold” rating to a “strong-buy” rating and set a $45.00 target price on the stock in a report on Friday, February 21st. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $55.00 target price (up from $45.00) on shares of InMode in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. InMode has a consensus rating of “Buy” and an average target price of $42.80.

The company’s 50 day moving average price is $27.42 and its 200-day moving average price is $35.52. The stock has a market cap of $618.62 million and a P/E ratio of 13.86.

InMode (NASDAQ:INMD) last released its quarterly earnings results on Tuesday, February 18th. The healthcare company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.07. InMode had a net margin of 39.10% and a return on equity of 52.38%. The firm had revenue of $47.00 million during the quarter, compared to the consensus estimate of $42.48 million. During the same quarter last year, the firm earned $0.22 earnings per share. The company’s revenue for the quarter was up 63.3% on a year-over-year basis. As a group, equities research analysts forecast that InMode Ltd. will post 1.86 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Jacobi Capital Management LLC acquired a new position in shares of InMode during the fourth quarter valued at about $25,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of InMode in the fourth quarter valued at approximately $63,000. Trustcore Financial Services LLC bought a new stake in InMode during the 4th quarter worth approximately $66,000. Quantbot Technologies LP bought a new stake in InMode during the 4th quarter worth approximately $87,000. Finally, Ladenburg Thalmann Financial Services Inc. purchased a new position in InMode in the 4th quarter worth approximately $98,000. Hedge funds and other institutional investors own 11.24% of the company’s stock.

About InMode (NASDAQ:INMD)

InMode Ltd. designs, develops, manufactures, and markets minimally-invasive aesthetic medical products based on its proprietary radio frequency assisted lipolysis and deep subdermal fractional radio frequency technologies. The company offers minimally-invasive aesthetic medical products for procedures, such as liposuction with simultaneous skin tightening, body and face contouring, and ablative skin rejuvenation treatments.

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