Short Interest in InMode Ltd. (NASDAQ:INMD) Decreases By 14.9%

InMode Ltd. (NASDAQ:INMD) was the target of a significant decline in short interest in February. As of February 27th, there was short interest totaling 2,832,008 shares, a decline of 14.9% from the February 12th total of 3,326,199 shares. Approximately 4.8% of the shares of the stock are short sold. Based on an average daily volume of 877,478 shares, the days-to-cover ratio is presently 3.2 days. Based on an average daily volume of 877,478 shares, the days-to-cover ratio is presently 3.2 days. Approximately 4.8% of the shares of the stock are short sold.

Analyst Ratings Changes

Several research firms have commented on INMD. Canaccord Genuity Group set a $15.00 target price on shares of InMode and gave the company a “hold” rating in a report on Wednesday, December 17th. BTIG Research reiterated a “neutral” rating on shares of InMode in a research report on Monday, January 26th. Robert W. Baird set a $17.00 price objective on shares of InMode in a research note on Wednesday, February 11th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of InMode in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $16.80.

Institutional Trading of InMode

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Leonteq Securities AG bought a new position in shares of InMode in the 4th quarter valued at $26,000. Quadrant Capital Group LLC grew its position in InMode by 127.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,945 shares of the healthcare company’s stock worth $29,000 after acquiring an additional 1,091 shares during the last quarter. Advisory Services Network LLC acquired a new position in InMode in the 3rd quarter worth about $37,000. Basepoint Wealth LLC acquired a new position in InMode in the 4th quarter worth about $39,000. Finally, Blue Trust Inc. raised its position in InMode by 93.7% in the third quarter. Blue Trust Inc. now owns 2,861 shares of the healthcare company’s stock valued at $43,000 after purchasing an additional 1,384 shares during the last quarter. Institutional investors own 68.04% of the company’s stock.

InMode Stock Up 6.1%

InMode stock opened at $13.54 on Monday. The stock has a market cap of $857.89 million, a PE ratio of 9.40 and a beta of 2.18. InMode has a 12-month low of $12.72 and a 12-month high of $19.09. The business’s 50-day moving average price is $14.40 and its two-hundred day moving average price is $14.63.

InMode (NASDAQ:INMD) last posted its quarterly earnings results on Tuesday, February 10th. The healthcare company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The company had revenue of $103.85 million for the quarter, compared to the consensus estimate of $104.64 million. InMode had a net margin of 25.33% and a return on equity of 14.52%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $0.42 EPS. As a group, analysts expect that InMode will post 1.75 earnings per share for the current year.

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.