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. It also designs, develops, manufactures, and markets non-invasive medical aesthetic products that target an array of procedures, including permanent hair reduction, facial skin rejuvenation, wrinkle reduction, cellulite treatment, skin appearance and texture, and superficial benign vascular and pigmented lesions, as well as hands-free medical aesthetic products that target a range of procedures, such as skin tightening, fat reduction, and muscle stimulation. The company was formerly known as Invasix Ltd. and changed its name to InMode Ltd. in November 2017. InMode Ltd. was incorporated in 2008 and is headquartered in Yokneam, Israel.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on INMD shares. Canaccord Genuity Group reduced their target price on InMode from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, June 30th. Needham & Company LLC raised their price target on InMode from $58.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, July 29th. Robert W. Baird raised their price target on InMode from $44.00 to $53.00 in a research note on Friday, July 29th. Canaccord Genuity Group cut their price target on InMode from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, June 30th. Finally, TheStreet upgraded InMode from a "d+" rating to a "b-" rating in a research note on Tuesday, August 9th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $63.00.
InMode Stock Performance
INMD traded up $0.12 on Monday, hitting $37.10. The company had a trading volume of 845,623 shares, compared to its average volume of 2,067,781. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 18.46 and a beta of 2.32. The stock has a fifty day moving average price of $27.49 and a 200-day moving average price of $32.25. InMode has a 12-month low of $20.60 and a 12-month high of $99.27.
InMode (NASDAQ:INMD - Get Rating) last released its earnings results on Thursday, July 28th. The healthcare company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.08. InMode had a return on equity of 41.50% and a net margin of 42.66%. The firm had revenue of $113.55 million during the quarter, compared to the consensus estimate of $103.00 million. During the same quarter in the previous year, the company posted $1.02 earnings per share. The company's revenue was up 30.0% compared to the same quarter last year.