InMode (NASDAQ:INMD) Shares Gap Down – Time to Sell?

InMode Ltd. (NASDAQ:INMD) shares gapped down prior to trading on Tuesday . The stock had previously closed at $15.12, but opened at $14.46. InMode shares last traded at $15.22, with a volume of 232,062 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. BTIG Research reissued a “neutral” rating on shares of InMode in a report on Monday, January 26th. UBS Group reduced their target price on InMode from $16.25 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of InMode in a research note on Thursday, January 22nd. Canaccord Genuity Group set a $15.00 price objective on InMode and gave the stock a “hold” rating in a report on Wednesday, December 17th. Finally, Wall Street Zen cut InMode from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.60.

InMode Trading Up 1.2%

The firm has a market capitalization of $966.73 million, a PE ratio of 7.08 and a beta of 2.19. The stock has a 50 day simple moving average of $14.66 and a 200 day simple moving average of $14.69.

InMode (NASDAQ:INMD) last posted its quarterly earnings results on Tuesday, February 10th. The healthcare company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The company had revenue of $103.85 million during the quarter, compared to analyst estimates of $104.64 million. InMode had a net margin of 41.04% and a return on equity of 14.50%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 EPS. As a group, equities analysts anticipate that InMode Ltd. will post 1.75 earnings per share for the current year.

Hedge Funds Weigh In On InMode

Several hedge funds have recently made changes to their positions in INMD. Doma Perpetual Capital Management LLC lifted its stake in shares of InMode by 26.8% in the 3rd quarter. Doma Perpetual Capital Management LLC now owns 2,838,431 shares of the healthcare company’s stock valued at $42,293,000 after purchasing an additional 599,108 shares during the period. Goldman Sachs Group Inc. lifted its position 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 during the period. Systematic Financial Management LP boosted its holdings in shares of InMode by 3.9% during the 2nd quarter. Systematic Financial Management LP now owns 1,090,971 shares of the healthcare company’s stock valued at $15,754,000 after buying an additional 41,363 shares in the last quarter. Cooper Creek Partners Management LLC purchased a new stake in shares of InMode in the 3rd quarter worth about $14,980,000. Finally, Ancient Art L.P. bought a new position in shares of InMode in the 3rd quarter worth about $14,254,000. 68.04% of the stock is owned by hedge funds and other institutional investors.

InMode Company Profile

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.