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

InMode Ltd. (NASDAQ:INMD) was the recipient of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 5,530,000 shares, a drop 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 short-interest ratio is presently 3.6 days.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Barclays reduced their price target on InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research note on Tuesday, April 9th. Finally, UBS Group lifted their price objective on InMode from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, InMode presently has an average rating of “Hold” and an average target price of $32.80.

Hedge Funds Weigh In On InMode

Several hedge funds have recently made changes to their positions in INMD. Trust Co. of Vermont increased its position in shares of InMode by 32.8% in the fourth quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock valued at $48,000 after acquiring an additional 536 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of InMode by 1.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 40,278 shares of the healthcare company’s stock valued at $1,227,000 after buying an additional 601 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in shares of InMode by 1.9% in the third quarter. Los Angeles Capital Management LLC now owns 33,916 shares of the healthcare company’s stock valued at $1,033,000 after buying an additional 640 shares in the last quarter. CWM LLC raised its position in InMode by 38.3% during the fourth quarter. CWM LLC now owns 2,454 shares of the healthcare company’s stock worth $55,000 after acquiring an additional 680 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in InMode by 9.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the healthcare company’s stock valued at $165,000 after acquiring an additional 691 shares during the last quarter. 68.04% of the stock is owned by institutional investors.

InMode Stock Performance

NASDAQ INMD opened at $17.19 on Wednesday. InMode has a 52-week low of $16.82 and a 52-week high of $48.25. The business has a 50 day simple moving average of $20.13 and a 200 day simple moving average of $21.43. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 7.47 and a beta of 2.16.

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

About InMode

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.