InMode (NASDAQ:INMD) Updates Q4 Earnings Guidance

InMode (NASDAQ:INMD) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.61-0.62 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.53. The company issued revenue guidance of $109.5-110 million, compared to the consensus revenue estimate of $99.59 million.

A number of equities research analysts recently issued reports on the stock. lifted their price target on shares of InMode from $80.00 to $100.00 and gave the company a buy rating in a research note on Wednesday, October 27th. Barclays lifted their price target on InMode from $60.00 to $85.00 and gave the stock an overweight rating in a report on Wednesday, October 13th. TheStreet lowered shares of InMode from a b- rating to a c rating in a report on Friday, October 1st. Robert W. Baird boosted their price objective on shares of InMode from $80.00 to $96.00 and gave the company an outperform rating in a report on Wednesday, October 27th. Finally, Needham & Company LLC dropped their target price on InMode to $103.00 and set a buy rating for the company in a research report on Tuesday, October 12th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Buy and an average price target of $70.79.

NASDAQ INMD opened at $50.00 on Friday. The business’s 50-day moving average price is $74.41 and its 200 day moving average price is $56.14. InMode has a twelve month low of $26.92 and a twelve month high of $99.27.

InMode (NASDAQ:INMD) last announced its earnings results on Tuesday, October 26th. The healthcare company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. The business had revenue of $94.18 million for the quarter, compared to the consensus estimate of $89.38 million. InMode had a return on equity of 46.95% and a net margin of 46.06%. The company’s revenue was up 57.7% on a year-over-year basis. During the same period last year, the business posted $0.31 EPS.

A hedge fund recently raised its stake in InMode stock. Morgan Stanley increased its stake in InMode Ltd. (NASDAQ:INMD) by 19.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 546,042 shares of the healthcare company’s stock after purchasing an additional 88,915 shares during the period. Morgan Stanley owned 1.71% of InMode worth $51,699,000 at the end of the most recent reporting period.

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. 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.

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