InMode (NASDAQ:INMD) Shares Pass Above 200-Day Moving Average – What’s Next?

Shares of InMode Ltd. (NASDAQ:INMD) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $14.15 and traded as high as $14.66. InMode shares last traded at $14.54, with a volume of 409,945 shares traded.

Analysts Set New Price Targets

A number of equities analysts have weighed in on INMD shares. Robert W. Baird decreased their price target on shares of InMode from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Barclays set a $19.00 price objective on InMode and gave the stock an “overweight” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.00.

InMode Stock Down 0.4%

The business’s 50 day moving average price is $13.95 and its 200-day moving average price is $14.15. The company has a market cap of $835.76 million, a PE ratio of 10.69 and a beta of 1.91.

InMode (NASDAQ:INMD) last released its quarterly earnings results on Wednesday, May 6th. The healthcare company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). InMode had a net margin of 23.27% and a return on equity of 13.47%. The firm had revenue of $82.02 million for the quarter, compared to analyst estimates of $79.84 million. During the same period in the previous year, the business posted $0.31 earnings per share. InMode’s revenue for the quarter was up 5.3% on a year-over-year basis.

Institutional Trading of InMode

A number of hedge funds and other institutional investors have recently modified their holdings of INMD. Royal Bank of Canada boosted its holdings in InMode by 5.7% in the first quarter. Royal Bank of Canada now owns 242,398 shares of the healthcare company’s stock valued at $4,299,000 after purchasing an additional 13,032 shares during the last quarter. AQR Capital Management LLC purchased a new stake in InMode during the 1st quarter worth approximately $317,000. Goldman Sachs Group Inc. increased 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 worth $19,935,000 after purchasing an additional 788,157 shares during the last quarter. American Century Companies Inc. raised its position in shares of InMode by 132.9% in the 2nd quarter. American Century Companies Inc. now owns 44,240 shares of the healthcare company’s stock valued at $639,000 after purchasing an additional 25,246 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of InMode by 270.7% during the 2nd quarter. Marshall Wace LLP now owns 555,573 shares of the healthcare company’s stock valued at $8,022,000 after buying an additional 405,707 shares during the last quarter. 68.04% of the stock is owned by hedge funds and other institutional investors.

InMode Company Profile

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.