InMode (NASDAQ:INMD) Stock Price Up 5.6%

InMode Ltd. (NASDAQ:INMD) rose 5.6% during trading on Friday . The company traded as high as $17.83 and last traded at $17.77. Approximately 815,253 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 1,457,817 shares. The stock had previously closed at $16.82.

Analyst Upgrades and Downgrades

INMD has been the subject of a number of recent research reports. Canaccord Genuity Group cut their target price on InMode from $21.00 to $16.00 and set a “hold” rating for the company in a research note on Friday. Barclays cut their target price on InMode from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.60.

InMode Price Performance

The firm has a 50 day simple moving average of $18.24 and a 200-day simple moving average of $20.24. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 8.42 and a beta of 2.18.

InMode (NASDAQ:INMD) last announced its earnings results on Thursday, May 2nd. The healthcare company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.32 by $0.09. The company had revenue of $80.28 million for the quarter, compared to analysts’ expectations of $80.10 million. InMode had a return on equity of 26.15% and a net margin of 38.84%. On average, sell-side analysts forecast that InMode Ltd. will post 1.8 earnings per share for the current fiscal year.

Institutional Trading of InMode

Several large investors have recently made changes to their positions in the business. Principal Securities Inc. bought a new position in InMode in the fourth quarter valued at about $32,000. Sunbelt Securities Inc. bought a new position in InMode during the third quarter worth about $47,000. Headlands Technologies LLC boosted its holdings in InMode by 118.2% during the first quarter. Headlands Technologies LLC now owns 1,916 shares of the healthcare company’s stock worth $41,000 after buying an additional 1,038 shares during the last quarter. Trust Co. of Vermont boosted its holdings in InMode by 32.8% during the fourth quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock worth $48,000 after buying an additional 536 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. raised its position in shares of InMode by 69.2% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,200 shares of the healthcare company’s stock worth $49,000 after purchasing an additional 900 shares during the period. Institutional investors own 68.04% of the company’s stock.

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.