InMode Ltd. (NASDAQ:INMD) Short Interest Update

InMode Ltd. (NASDAQ:INMD) was the recipient of a significant drop in short interest in 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 volume of 1,550,000 shares, the days-to-cover ratio is presently 3.6 days.

Hedge Funds Weigh In On InMode

A number of hedge funds have recently bought and sold shares of INMD. Exchange Traded Concepts LLC acquired a new stake in shares of InMode in the third quarter valued at approximately $27,000. Principal Securities Inc. bought a new stake in InMode during the fourth quarter worth about $32,000. Carmel Capital Partners LLC acquired a new stake in InMode during the third quarter worth about $36,000. Sunbelt Securities Inc. acquired a new position in shares of InMode in the 3rd quarter valued at approximately $47,000. Finally, Trust Co. of Vermont boosted its position in shares of InMode by 32.8% during the 4th quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock worth $48,000 after acquiring an additional 536 shares in the last quarter. 68.04% of the stock is owned by institutional investors.

InMode Stock Performance

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

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. The company had revenue of $126.80 million for the quarter, compared to analyst estimates of $124.77 million. InMode had a return on equity of 29.80% and a net margin of 40.22%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 earnings per share. Sell-side analysts forecast that InMode will post 2.04 EPS for the current year.

Wall Street Analyst Weigh In

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

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.