InMode Ltd. (NASDAQ:INMD) Short Interest Update

InMode Ltd. (NASDAQ:INMD) saw a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 6,590,000 shares, a drop of 5.7% from the May 31st total of 6,990,000 shares. Based on an average daily volume of 1,270,000 shares, the short-interest ratio is currently 5.2 days.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on INMD shares. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a report on Friday, May 3rd. Barclays dropped their price target on InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $32.80.

InMode Stock Performance

Shares of InMode stock opened at $17.48 on Thursday. InMode has a one year low of $16.72 and a one year high of $48.25. The company has a market cap of $1.47 billion, a P/E ratio of 8.28 and a beta of 2.18. The firm has a fifty day moving average of $18.23 and a two-hundred day moving average of $20.44.

InMode (NASDAQ:INMD) last issued its quarterly earnings results on Thursday, May 2nd. The healthcare company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. The business had revenue of $80.28 million for the quarter, compared to analyst estimates of $80.10 million. InMode had a net margin of 38.84% and a return on equity of 26.15%. As a group, equities analysts predict that InMode will post 1.8 earnings per share for the current year.

Hedge Funds Weigh In On InMode

A number of large investors have recently modified their holdings of INMD. Principal Securities Inc. acquired a new position in InMode during the fourth quarter worth $32,000. Duality Advisers LP purchased a new position in shares of InMode in the 4th quarter valued at about $1,773,000. Doma Perpetual Capital Management LLC acquired a new stake in shares of InMode in the fourth quarter valued at about $2,991,000. Envestnet Asset Management Inc. boosted its holdings in InMode by 45.0% during the third quarter. Envestnet Asset Management Inc. now owns 164,928 shares of the healthcare company’s stock worth $5,024,000 after buying an additional 51,181 shares in the last quarter. Finally, M&G Investment Management Ltd. acquired a new position in InMode during the fourth quarter worth about $8,041,000. 68.04% of the stock is owned by hedge funds and other institutional investors.

About InMode

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.