InMode (NASDAQ:INMD) Releases Quarterly Earnings Results, Meets Expectations

InMode (NASDAQ:INMD) issued its quarterly earnings data on Wednesday. The healthcare company reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35, FiscalAI reports. The firm had revenue of $95.59 million during the quarter, compared to the consensus estimate of $93.70 million. InMode had a return on equity of 11.83% and a net margin of 20.69%.The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.47 earnings per share.

InMode Stock Performance

NASDAQ:INMD traded up $0.11 during trading hours on Friday, reaching $15.23. The company’s stock had a trading volume of 101,481 shares, compared to its average volume of 912,863. The firm has a market capitalization of $875.42 million, a price-to-earnings ratio of 12.38 and a beta of 1.89. The firm has a 50-day simple moving average of $14.49 and a 200-day simple moving average of $14.25. InMode has a 1 year low of $12.72 and a 1 year high of $16.74.

Analyst Upgrades and Downgrades

INMD has been the topic of several recent analyst reports. Robert W. Baird dropped 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. Barclays set a $19.00 price target on shares of InMode and gave the stock an “overweight” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $16.00.

Institutional Investors Weigh In On InMode

Several institutional investors have recently bought and sold shares of INMD. Cooper Creek Partners Management LLC bought a new position in InMode in the 3rd quarter worth $14,980,000. Millennium Management LLC grew its stake in shares of InMode by 111.4% during the 4th quarter. Millennium Management LLC now owns 1,778,681 shares of the healthcare company’s stock valued at $26,129,000 after acquiring an additional 937,376 shares during the period. Goldman Sachs Group Inc. raised its stake in InMode by 234.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company’s stock worth $19,935,000 after acquiring an additional 788,157 shares during the period. Steel Partners Holdings L.P. bought a new stake in InMode during the 4th quarter worth approximately $10,352,000. Finally, Bank of America Corp DE boosted its position in shares of InMode by 142.1% in the second quarter. Bank of America Corp DE now owns 862,209 shares of the healthcare company’s stock worth $12,450,000 after purchasing an additional 506,134 shares during the period. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

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.