InMode (NASDAQ:INMD) Shares Gap Up – Should You Buy?

InMode Ltd. (NASDAQ:INMD)’s share price gapped up before the market opened on Friday . The stock had previously closed at $12.76, but opened at $13.71. InMode shares last traded at $13.5850, with a volume of 653,419 shares.

Analysts Set New Price Targets

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

InMode Trading Up 5.8%

The company has a market cap of $855.11 million, a P/E ratio of 9.35 and a beta of 2.18. The company’s 50-day moving average price is $14.43 and its two-hundred day moving average price is $14.64.

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

Hedge Funds Weigh In On InMode

Several large investors have recently added to or reduced their stakes in INMD. ARGA Investment Management LP lifted its holdings in InMode by 355.0% in the third 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. acquired a new stake in shares of InMode during the 3rd quarter worth approximately $1,564,000. Divisadero Street Capital Management LP acquired a new stake in shares of InMode during the 2nd quarter worth approximately $1,397,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of InMode by 612.1% in the 3rd 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 lifted its holdings in shares of InMode by 55.3% in the 2nd 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. 68.04% of the stock is currently owned by institutional investors.

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.