InMode (NASDAQ:INMD) Shares Gap Down After Earnings Miss

InMode Ltd. (NASDAQ:INMD - Get Free Report)'s share price gapped down before the market opened on Monday following a dissappointing earnings announcement. The stock had previously closed at $16.22, but opened at $14.33. InMode shares last traded at $15.00, with a volume of 716,444 shares traded.

The healthcare company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.19). InMode had a net margin of 45.91% and a return on equity of 18.25%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays boosted their target price on shares of InMode from $26.00 to $29.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Needham & Company LLC restated a "hold" rating on shares of InMode in a research report on Wednesday, April 9th. Finally, Jefferies Financial Group decreased their price target on InMode from $16.00 to $15.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $21.25.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of INMD. Orion Capital Management LLC acquired a new stake in InMode during the 4th quarter valued at approximately $65,000. SBI Securities Co. Ltd. purchased a new stake in InMode in the 4th quarter worth approximately $87,000. Farther Finance Advisors LLC grew its stake in shares of InMode by 26.2% during the 4th quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company's stock worth $93,000 after purchasing an additional 1,154 shares during the period. Covestor Ltd increased its holdings in shares of InMode by 13.9% during the 4th quarter. Covestor Ltd now owns 5,936 shares of the healthcare company's stock valued at $99,000 after purchasing an additional 723 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in InMode by 6,128.7% during the fourth quarter. Lazard Asset Management LLC now owns 6,291 shares of the healthcare company's stock worth $105,000 after buying an additional 6,190 shares in the last quarter. Institutional investors and hedge funds own 68.04% of the company's stock.

InMode Stock Down 8.6 %

The company's 50-day moving average is $17.36 and its 200 day moving average is $17.65. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 6.26 and a beta of 1.96.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.