Short Interest in InMode Ltd. (NASDAQ:INMD) Decreases By 14.9%

InMode Ltd. (NASDAQ:INMD) saw a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 2,832,008 shares, a drop 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 currently 3.2 days. Currently, 4.8% of the shares of the company are short sold. Currently, 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 currently 3.2 days.

Institutional Trading of InMode

A number of institutional investors have recently bought and sold shares of INMD. Royal Bank of Canada raised its position in shares of InMode by 5.7% in the first quarter. Royal Bank of Canada now owns 242,398 shares of the healthcare company’s stock valued at $4,299,000 after buying an additional 13,032 shares in the last quarter. AQR Capital Management LLC bought a new position in InMode during the 1st quarter worth $317,000. Goldman Sachs Group Inc. raised its holdings 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 in the last quarter. Envestnet Asset Management Inc. raised its holdings in InMode by 124.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 43,008 shares of the healthcare company’s stock valued at $621,000 after acquiring an additional 23,837 shares in the last quarter. Finally, Inspire Advisors LLC lifted its position in shares of InMode by 10.1% during the 2nd quarter. Inspire Advisors LLC now owns 66,150 shares of the healthcare company’s stock valued at $955,000 after acquiring an additional 6,076 shares during the period. Institutional investors own 68.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on INMD. Weiss Ratings reissued a “sell (d+)” rating on shares of InMode in a report on Thursday, January 22nd. BTIG Research reiterated a “neutral” rating on shares of InMode in a report on Monday, January 26th. 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. Finally, Robert W. Baird set a $17.00 target price on shares of InMode in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, InMode currently has a consensus rating of “Hold” and an average target price of $16.80.

InMode Trading Up 6.1%

NASDAQ:INMD opened at $13.54 on Monday. The stock has a 50 day simple moving average of $14.40 and a 200 day simple moving average of $14.63. The stock has a market cap of $857.89 million, a P/E ratio of 9.40 and a beta of 2.18. InMode has a 1-year low of $12.72 and a 1-year high of $19.09.

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

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.