InMode (NASDAQ:INMD) Shares Gap Up - What's Next?

Key Points

• InMode Ltd. shares gapped up prior to trading, opening at $16.58 compared to the previous close of $15.05, and are currently trading at $16.37.
• Analysts have mixed ratings on InMode, with an average rating of "Hold" and a price target of $18.04, while the stock has received one Buy rating, eight Hold ratings, and one Sell rating.
• The company reported earnings of $0.47 per share for the last quarter, missing estimates, with revenue increasing by 10.6% year-over-year to $95.60 million but below expectations of $98.45 million.

InMode Ltd. (NASDAQ:INMD - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $15.05, but opened at $16.58. InMode shares last traded at $16.37, with a volume of 461,973 shares trading hands.

Analyst Ratings Changes

Several research firms recently weighed in on INMD. Weiss Ratings reissued a "sell (d+)" rating on shares of InMode in a research note on Wednesday. Canaccord Genuity Group reissued a "hold" rating and set a $15.00 price objective on shares of InMode in a research note on Friday, July 11th. Needham & Company LLC reissued a "hold" rating on shares of InMode in a research note on Wednesday, July 30th. Barclays reduced their price objective on shares of InMode from $24.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Finally, Zacks Research raised shares of InMode from a "strong sell" rating to a "hold" rating in a research note on Monday, September 29th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $18.04.

InMode Stock Up 5.6%

The business's 50 day simple moving average is $14.69 and its 200 day simple moving average is $14.82. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 6.43 and a beta of 2.09.

InMode (NASDAQ:INMD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The healthcare company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). InMode had a return on equity of 18.38% and a net margin of 44.50%.The business had revenue of $95.60 million for the quarter, compared to the consensus estimate of $98.45 million. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The business's revenue was up 10.6% compared to the same quarter last year. Equities research analysts forecast that InMode Ltd. will post 1.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC boosted its position in shares of InMode by 92.9% in the second quarter. Squarepoint Ops LLC now owns 143,758 shares of the healthcare company's stock valued at $2,076,000 after acquiring an additional 69,239 shares during the period. Hudson Bay Capital Management LP bought a new stake in shares of InMode in the second quarter valued at about $253,000. Tower Research Capital LLC TRC boosted its position in shares of InMode by 810.4% in the second quarter. Tower Research Capital LLC TRC now owns 59,631 shares of the healthcare company's stock valued at $861,000 after acquiring an additional 53,081 shares during the period. Topline Capital Management LLC bought a new stake in shares of InMode in the second quarter valued at about $160,000. Finally, HRT Financial LP boosted its position in shares of InMode by 294.7% in the second quarter. HRT Financial LP now owns 207,143 shares of the healthcare company's stock valued at $2,991,000 after acquiring an additional 154,665 shares during the period. 68.04% of the stock is owned by institutional investors and hedge funds.

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.

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