InMode Ltd. (NASDAQ:INMD) Short Interest Down 14.9% in February

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

Institutional Investors Weigh In On InMode

A number of institutional investors and hedge funds have recently made changes to their positions in the business. ARGA Investment Management LP increased its stake in InMode by 355.0% in the 3rd quarter. ARGA Investment Management LP now owns 143,658 shares of the healthcare company’s stock worth $2,141,000 after acquiring an additional 112,087 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new position in shares of InMode during the third quarter worth about $1,564,000. Divisadero Street Capital Management LP purchased a new position in shares of InMode during the second quarter worth about $1,397,000. State of New Jersey Common Pension Fund D increased its position in shares of InMode by 612.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 96,120 shares of the healthcare company’s stock worth $1,432,000 after purchasing an additional 82,621 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp increased its position in shares of InMode by 55.3% in the second quarter. OMERS ADMINISTRATION Corp now owns 200,043 shares of the healthcare company’s stock worth $2,889,000 after purchasing an additional 71,231 shares during the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Trading Down 1.7%

Shares of INMD stock traded down $0.24 during trading hours on Wednesday, reaching $13.42. The stock had a trading volume of 972,690 shares, compared to its average volume of 1,130,198. The stock’s fifty day simple moving average is $14.33 and its 200 day simple moving average is $14.61. InMode has a 12 month low of $12.72 and a 12 month high of $19.09. The firm has a market capitalization of $849.97 million, a PE ratio of 9.32 and a beta of 2.18.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on INMD shares. Robert W. Baird set a $17.00 price objective on InMode in a research note on Wednesday, February 11th. Canaccord Genuity Group set a $15.00 target price on shares of InMode and gave the stock a “hold” rating in a research report on Wednesday, December 17th. Weiss Ratings reissued a “sell (d+)” rating on shares of InMode in a research report on Thursday, January 22nd. Finally, BTIG Research restated a “neutral” rating on shares of InMode in a research note on Monday, January 26th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $16.80.

About InMode

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.