InMode (NASDAQ:INMD) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

InMode (NASDAQ:INMD) released its quarterly earnings results on Wednesday. The healthcare company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02, FiscalAI reports. InMode had a return on equity of 13.47% and a net margin of 23.27%.The firm had revenue of $95.59 million during the quarter, compared to analysts’ expectations of $93.05 million. During the same quarter in the prior year, the business earned $0.47 EPS. InMode’s quarterly revenue was up .0% compared to the same quarter last year.

InMode Stock Down 1.5%

Shares of InMode stock traded down $0.23 on Wednesday, hitting $15.14. 213,491 shares of the company’s stock traded hands, compared to its average volume of 919,160. InMode has a 52-week low of $12.72 and a 52-week high of $16.74. The stock has a market cap of $870.48 million, a P/E ratio of 11.14 and a beta of 1.89. The firm’s 50-day moving average is $14.44 and its 200 day moving average is $14.23.

Analyst Ratings Changes

INMD has been the topic of a number of recent research reports. Robert W. Baird reduced their target price on shares of InMode from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Barclays set a $19.00 price target on shares of InMode and gave the stock an “overweight” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in shares of InMode by 5.7% in the 1st quarter. Royal Bank of Canada now owns 242,398 shares of the healthcare company’s stock worth $4,299,000 after purchasing an additional 13,032 shares during the last quarter. AQR Capital Management LLC bought a new stake in InMode in the first quarter valued at about $317,000. Goldman Sachs Group Inc. raised its stake in InMode by 234.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company’s stock valued at $19,935,000 after buying an additional 788,157 shares in the last quarter. American Century Companies Inc. lifted its holdings in InMode by 132.9% during the 2nd quarter. American Century Companies Inc. now owns 44,240 shares of the healthcare company’s stock worth $639,000 after buying an additional 25,246 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in InMode by 270.7% during the 2nd quarter. Marshall Wace LLP now owns 555,573 shares of the healthcare company’s stock worth $8,022,000 after buying an additional 405,707 shares during the last quarter. 68.04% of the stock is currently owned by institutional investors.

About InMode

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.