InMode Ltd. (NASDAQ:INMD) Short Interest Down 6.4% in April

InMode Ltd. (NASDAQ:INMD) was the target of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 5,530,000 shares, a decline of 6.4% from the March 31st total of 5,910,000 shares. Based on an average daily trading volume, of 1,550,000 shares, the days-to-cover ratio is currently 3.6 days.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research report on Tuesday, April 9th. Barclays reduced their price target on shares of InMode from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Finally, UBS Group upped their price target on shares of InMode from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, InMode currently has an average rating of “Hold” and an average target price of $32.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Duality Advisers LP bought a new position in shares of InMode during the 4th quarter valued at approximately $1,773,000. Ibex Investors LLC bought a new position in shares of InMode during the 3rd quarter valued at approximately $1,954,000. UBS Group AG boosted its position in shares of InMode by 3.9% during the 3rd quarter. UBS Group AG now owns 753,026 shares of the healthcare company’s stock valued at $22,937,000 after acquiring an additional 28,446 shares during the last quarter. Meitav Investment House Ltd. raised its holdings in InMode by 58.2% during the 3rd quarter. Meitav Investment House Ltd. now owns 1,589,027 shares of the healthcare company’s stock valued at $49,448,000 after buying an additional 584,655 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in InMode by 45.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 164,928 shares of the healthcare company’s stock valued at $5,024,000 after buying an additional 51,181 shares during the period. 68.04% of the stock is currently owned by institutional investors.

InMode Price Performance

INMD stock opened at $17.19 on Wednesday. InMode has a 1-year low of $16.82 and a 1-year high of $48.25. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 7.47 and a beta of 2.16. The business has a 50 day simple moving average of $20.13 and a two-hundred day simple moving average of $21.43.

InMode (NASDAQ:INMD) last posted its quarterly earnings results on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. The business had revenue of $126.80 million during the quarter, compared to the consensus estimate of $124.77 million. InMode had a return on equity of 29.80% and a net margin of 40.22%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 EPS. Sell-side analysts anticipate that InMode will post 2.04 EPS for the current fiscal year.

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.