InMode (NASDAQ:INMD) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• InMode shares rose above their 200-day moving average, reaching $14.51 and last trading at $14.50, compared with the $14.31 average. The stock was up about 1% in the session.
• Analyst sentiment remains cautious: InMode has an overall “Hold” rating, with one Buy, six Hold, and one Sell recommendation. The average analyst price target is $16, while Weiss Ratings reiterated a “Sell (D+)” rating.
• InMode’s latest quarterly results met expectations, with adjusted earnings of $0.35 per share and revenue of $95.59 million versus the $94.89 million consensus estimate. Institutional investors own approximately 68.04% of the company.

InMode Ltd. (NASDAQ:INMD - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $14.31 and traded as high as $14.51. InMode shares last traded at $14.50, with a volume of 336,472 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "sell (d+)" rating on shares of InMode in a report on Thursday, August 6th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $16.00.

InMode Trading Up 1.0%

The stock has a 50-day simple moving average of $15.05 and a 200-day simple moving average of $14.31. The company has a market cap of $833.46 million, a price-to-earnings ratio of 11.79 and a beta of 1.86.

InMode (NASDAQ:INMD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The healthcare company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $95.59 million for the quarter, compared to analysts' expectations of $94.89 million. InMode had a net margin of 20.69% and a return on equity of 11.99%. The company's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 EPS.

Hedge Funds Weigh In On InMode

Several institutional investors have recently added to or reduced their stakes in INMD. Tidal Investments LLC raised its stake in shares of InMode by 51.7% in the second quarter. Tidal Investments LLC now owns 88,423 shares of the healthcare company's stock worth $1,293,000 after acquiring an additional 30,145 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in InMode during the 2nd quarter worth $677,000. IFP Advisors Inc acquired a new stake in InMode during the 2nd quarter worth $31,000. Plan A Wealth LLC lifted its stake in InMode by 20.3% in the second quarter. Plan A Wealth LLC now owns 17,720 shares of the healthcare company's stock valued at $259,000 after buying an additional 2,991 shares during the period. Finally, NINE MASTS CAPITAL Ltd acquired a new position in InMode during the second quarter valued at approximately $439,000. 68.04% of the stock is owned by institutional investors.

About InMode

InMode Ltd. NASDAQ: INMD is an Israel-based medical technology company that develops, manufactures and markets energy-based platforms for minimally invasive and non-invasive aesthetic and medical treatments. Its technologies are designed for use by physicians and other healthcare professionals in areas including facial rejuvenation, skin resurfacing, body contouring, hair removal and women's health.

The company's product portfolio includes radiofrequency-based systems such as BodyTite and FaceTite for tissue remodeling and contouring, Morpheus8 for fractional skin treatment, and multi-application platforms such as EmpowerRF and Optimas.

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