InMode (NASDAQ:INMD) Shares Gap Down on Disappointing Earnings

Shares of InMode Ltd. (NASDAQ:INMD) gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $14.40, but opened at $13.40. InMode shares last traded at $13.4380, with a volume of 385,949 shares changing hands.

The healthcare company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). The firm had revenue of $82.02 million for the quarter, compared to analysts’ expectations of $79.84 million. InMode had a return on equity of 14.52% and a net margin of 25.33%.InMode’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 earnings per share.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on INMD shares. BTIG Research reaffirmed a “neutral” rating on shares of InMode in a report on Monday, January 26th. Robert W. Baird set a $17.00 target price on InMode in a research note on Wednesday, February 11th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of InMode in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, InMode presently has an average rating of “Hold” and an average price target of $17.25.

Institutional Investors Weigh In On InMode

A number of hedge funds have recently made changes to their positions in INMD. Royal Bank of Canada raised its stake in shares of InMode by 5.7% during the 1st quarter. Royal Bank of Canada now owns 242,398 shares of the healthcare company’s stock worth $4,299,000 after purchasing an additional 13,032 shares during the period. AQR Capital Management LLC bought a new stake in InMode in the 1st quarter valued at about $317,000. Goldman Sachs Group Inc. raised its stake in InMode by 234.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company’s stock valued at $19,935,000 after acquiring an additional 788,157 shares during the period. American Century Companies Inc. raised its stake in InMode by 132.9% in the 2nd quarter. American Century Companies Inc. now owns 44,240 shares of the healthcare company’s stock valued at $639,000 after acquiring an additional 25,246 shares during the period. Finally, Marshall Wace LLP raised its stake in InMode by 270.7% in the 2nd quarter. Marshall Wace LLP now owns 555,573 shares of the healthcare company’s stock valued at $8,022,000 after acquiring an additional 405,707 shares during the period. 68.04% of the stock is currently owned by institutional investors.

InMode Stock Performance

The stock has a 50 day moving average of $13.83 and a 200-day moving average of $14.36. The firm has a market capitalization of $854.73 million, a P/E ratio of 9.38 and a beta of 1.97.

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.