InMode Target of Unusually High Options Trading (NASDAQ:INMD)

InMode Ltd. (NASDAQ:INMD) saw unusually large options trading activity on Tuesday. Stock investors purchased 5,514 call options on the stock. This represents an increase of 163% compared to the average volume of 2,100 call options.

Wall Street Analysts Forecast Growth

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

InMode Stock Performance

NASDAQ:INMD opened at $16.90 on Thursday. The stock has a market capitalization of $1.42 billion, a P/E ratio of 8.01 and a beta of 2.17. The company’s 50-day simple moving average is $16.80 and its 200-day simple moving average is $18.37. InMode has a fifty-two week low of $15.39 and a fifty-two week high of $37.87.

InMode (NASDAQ:INMD) last announced its quarterly earnings data on Thursday, August 1st. The healthcare company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.04). The company had revenue of $102.60 million during the quarter, compared to analysts’ expectations of $104.81 million. InMode had a net margin of 35.81% and a return on equity of 21.00%. The business’s revenue for the quarter was down 24.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 earnings per share. On average, research analysts forecast that InMode will post 1.63 EPS for the current year.

Hedge Funds Weigh In On InMode

Several hedge funds and other institutional investors have recently modified their holdings of INMD. Principal Securities Inc. purchased a new position in shares of InMode in the 4th quarter valued at approximately $32,000. Boston Partners raised its position in InMode by 21.0% during the 4th quarter. Boston Partners now owns 671,959 shares of the healthcare company’s stock worth $14,550,000 after buying an additional 116,804 shares during the last quarter. M&G Investment Management Ltd. purchased a new position in InMode during the 4th quarter worth approximately $8,041,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in InMode by 12.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 378,102 shares of the healthcare company’s stock worth $7,940,000 after buying an additional 42,440 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in InMode by 158.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 104,162 shares of the healthcare company’s stock worth $2,317,000 after buying an additional 63,884 shares during the last quarter. 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.