InMode Ltd. (NASDAQ:INMD) Short Interest Update

InMode Ltd. (NASDAQ:INMD - Get Free Report) was the recipient of a large decrease in short interest in August. As of August 15th, there was short interest totalling 6,230,000 shares, a decrease of 10.6% from the July 31st total of 6,970,000 shares. Based on an average trading volume of 1,240,000 shares, the short-interest ratio is currently 5.0 days.

Analyst Ratings Changes

Several equities analysts have commented on INMD shares. Barclays dropped their price target on shares of InMode from $33.00 to $29.00 and set an "overweight" rating for the company in a research note on Monday, July 15th. Needham & Company LLC reissued a "hold" rating on shares of InMode in a research report on Thursday, July 11th. Canaccord Genuity Group cut their price target on InMode from $21.00 to $16.00 and set a "hold" rating on the stock in a research note on Friday, July 12th. Finally, Jefferies Financial Group cut InMode from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $21.00 to $19.00 in a research report on Tuesday, July 23rd. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $22.40.

Institutional Investors Weigh In On InMode

Several large investors have recently modified their holdings of INMD. Doma Perpetual Capital Management LLC raised its holdings in InMode by 70.0% during the second quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company's stock worth $36,685,000 after purchasing an additional 828,122 shares in the last quarter. Swedbank AB purchased a new position in shares of InMode during the 1st quarter worth approximately $17,634,000. Federated Hermes Inc. lifted its holdings in shares of InMode by 191.9% in the 2nd quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company's stock valued at $20,520,000 after buying an additional 739,629 shares during the period. Acadian Asset Management LLC boosted its stake in shares of InMode by 63.6% in the second quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company's stock valued at $20,502,000 after buying an additional 437,122 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of InMode in the fourth quarter valued at approximately $8,890,000. Hedge funds and other institutional investors own 68.04% of the company's stock.

InMode Trading Up 4.4 %

Shares of InMode stock traded up $0.71 during trading on Friday, reaching $16.71. The company's stock had a trading volume of 1,263,773 shares, compared to its average volume of 986,094. The firm has a market cap of $1.40 billion, a PE ratio of 7.92 and a beta of 2.18. The company has a 50-day moving average price of $17.08 and a two-hundred day moving average price of $18.70. InMode has a fifty-two week low of $15.41 and a fifty-two week high of $40.40.

InMode (NASDAQ:INMD - Get Free Report) last announced its earnings results on Thursday, August 1st. The healthcare company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.04). The business had revenue of $102.60 million for the quarter, compared to analyst estimates of $104.81 million. InMode had a return on equity of 21.00% and a net margin of 35.81%. InMode's quarterly revenue was down 24.6% on a year-over-year basis. During the same quarter last year, the company posted $0.65 EPS. On average, analysts predict that InMode will post 1.63 earnings per share for the current fiscal year.

InMode Company Profile

InMode Ltd. designs, develops, manufactures, and markets minimally invasive aesthetic medical products based on its proprietary radiofrequency assisted lipolysis and deep subdermal fractional radiofrequency technologies in the United States and internationally. The company offers minimally invasive aesthetic medical products for various procedures, such as liposuction with simultaneous skin tightening, body and face contouring, and ablative skin rejuvenation treatments, as well as for use in women's health conditions and procedures.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.