Stock Traders Purchase Large Volume of InMode Call Options (NASDAQ:INMD)

InMode Ltd. (NASDAQ:INMD - Get Free Report) saw unusually large options trading on Tuesday. Traders purchased 5,514 call options on the stock. This represents an increase of 163% compared to the typical volume of 2,100 call options.

Analyst Upgrades and Downgrades

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

InMode Stock Performance

NASDAQ INMD traded up $1.37 during trading on Tuesday, hitting $16.89. The stock had a trading volume of 2,190,156 shares, compared to its average volume of 1,377,572. The company has a market capitalization of $1.42 billion, a PE ratio of 8.04 and a beta of 2.18. InMode has a 12 month low of $15.39 and a 12 month high of $38.33. The company's 50-day moving average price is $16.82 and its two-hundred day moving average price is $18.41.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Nordea Investment Management AB boosted its holdings in shares of InMode by 161.1% in the 1st quarter. Nordea Investment Management AB now owns 361,701 shares of the healthcare company's stock valued at $7,853,000 after buying an additional 223,191 shares during the last quarter. Principal Securities Inc. bought a new position in shares of InMode in the 4th quarter valued at about $32,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of InMode during the 1st quarter worth about $959,000. ARK Investment Management LLC raised its holdings in shares of InMode by 35.0% in the 2nd quarter. ARK Investment Management LLC now owns 124,905 shares of the healthcare company's stock valued at $2,278,000 after purchasing an additional 32,369 shares during the period. Finally, Doma Perpetual Capital Management LLC acquired a new stake in InMode in the 4th quarter valued at about $2,991,000. 68.04% of the stock is owned by institutional investors and hedge funds.

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.