InMode Ltd. (NASDAQ:INMD – Get Free Report) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 9,190,000 shares, an increase of 15.3% from the November 30th total of 7,970,000 shares. Based on an average daily volume of 2,330,000 shares, the days-to-cover ratio is presently 3.9 days.
InMode Trading Down 1.3 %
Shares of NASDAQ:INMD traded down $0.30 on Monday, reaching $22.24. 953,300 shares of the company’s stock were exchanged, compared to its average volume of 1,666,583. The company has a fifty day moving average of $21.71 and a 200-day moving average of $31.37. InMode has a twelve month low of $18.57 and a twelve month high of $48.25. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 10.59 and a beta of 2.22.
InMode (NASDAQ:INMD – Get Free Report) last announced its earnings results on Thursday, November 2nd. The healthcare company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. InMode had a net margin of 36.18% and a return on equity of 31.72%. The firm had revenue of $123.11 million for the quarter, compared to analyst estimates of $123.00 million. As a group, equities research analysts forecast that InMode will post 2.19 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in INMD. Lincoln National Corp boosted its position in shares of InMode by 2.6% during the 2nd quarter. Lincoln National Corp now owns 10,970 shares of the healthcare company’s stock worth $410,000 after acquiring an additional 281 shares in the last quarter. Absher Wealth Management LLC boosted its position in shares of InMode by 1.0% during the 2nd quarter. Absher Wealth Management LLC now owns 30,800 shares of the healthcare company’s stock worth $1,150,000 after acquiring an additional 293 shares in the last quarter. Signaturefd LLC boosted its position in shares of InMode by 13.3% during the 2nd quarter. Signaturefd LLC now owns 2,564 shares of the healthcare company’s stock worth $96,000 after acquiring an additional 300 shares in the last quarter. Orion Capital Management LLC boosted its position in shares of InMode by 1.7% during the 2nd quarter. Orion Capital Management LLC now owns 23,485 shares of the healthcare company’s stock worth $877,000 after acquiring an additional 400 shares in the last quarter. Finally, First Republic Investment Management Inc. boosted its position in shares of InMode by 7.2% during the 2nd quarter. First Republic Investment Management Inc. now owns 7,000 shares of the healthcare company’s stock worth $261,000 after acquiring an additional 473 shares in the last quarter. Institutional investors and hedge funds own 65.49% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. TheStreet cut shares of InMode from a “b-” rating to a “c+” rating in a report on Thursday, October 19th. Canaccord Genuity Group reiterated a “hold” rating and issued a $22.00 price target on shares of InMode in a research note on Thursday, December 7th. UBS Group reiterated a “neutral” rating and issued a $24.00 price target (down previously from $52.00) on shares of InMode in a research note on Friday, November 3rd. Finally, Canaccord Genuity Group lowered shares of InMode from a “buy” rating to a “hold” rating and decreased their price target for the company from $55.00 to $22.00 in a research note on Friday, October 13th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, InMode currently has an average rating of “Hold” and a consensus target price of $40.50.
InMode Company Profile
InMode Ltd. designs, develops, manufactures, and markets minimally invasive aesthetic medical products based on its proprietary radiofrequency assisted lipolysis and deep subdermal fractional radiofrequency technologies in the United States and internationally. The company offers minimally invasive aesthetic medical products for various procedures, such as liposuction with simultaneous skin tightening, body and face contouring, and ablative skin rejuvenation treatments, as well as for use in women’s health conditions and procedures.