InMode (NASDAQ:INMD) Shares Gap Up – Time to Buy?

InMode Ltd. (NASDAQ:INMD)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $13.35, but opened at $14.87. InMode shares last traded at $14.6420, with a volume of 799,315 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Barclays set a $19.00 price target on InMode and gave the company an “overweight” rating in a research report on Thursday, May 7th. Robert W. Baird lowered their price objective on InMode from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.00.

InMode Stock Up 0.1%

The company’s 50-day moving average is $13.91 and its 200-day moving average is $14.13. The stock has a market capitalization of $851.28 million, a price-to-earnings ratio of 10.89 and a beta of 1.94.

InMode (NASDAQ:INMD) last posted its earnings results on Wednesday, May 6th. The healthcare company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.05). The firm had revenue of $82.02 million during the quarter, compared to analyst estimates of $79.84 million. InMode had a net margin of 23.27% and a return on equity of 13.47%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 earnings per share.

Institutional Investors Weigh In On InMode

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Leonteq Securities AG acquired a new position in shares of InMode in the 4th quarter valued at $26,000. Quadrant Capital Group LLC increased its position in shares of InMode by 127.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,945 shares of the healthcare company’s stock worth $29,000 after purchasing an additional 1,091 shares during the last quarter. Advisory Services Network LLC purchased a new stake in InMode in the 3rd quarter valued at about $37,000. Basepoint Wealth LLC purchased a new stake in InMode in the 4th quarter valued at about $39,000. Finally, Deutsche Bank AG lifted its position in InMode by 35.9% in the fourth quarter. Deutsche Bank AG now owns 3,927 shares of the healthcare company’s stock valued at $58,000 after buying an additional 1,037 shares during the last quarter. Institutional investors and hedge funds own 68.04% of the company’s stock.

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.