InMode (NASDAQ: INMD) released an update on its earnings forecast for the third quarter of 2021 on Tuesday morning. The company reported earnings per share of $ 0.530 to $ 0.540 for the period, compared to Thomson Reuters’ consensus estimate of earnings per share of $ 0.360. The company issued a revenue forecast of $ 93.50 to $ 94 million, compared to its consensus revenue estimate of $ 74.94 million. InMode also updated its forecast for fiscal year 2021 to EPS.
INMD stock opened at $ 85.02 on Tuesday. InMode has a 52-week low of $ 18.02 and a 52-week high of $ 90.00. The company has a 50-day simple moving average of $ 70.54 and a 200-day simple moving average of $ 54.50. The company has a market cap of $ 5.44 billion, a P / E of 56.68, and a beta of 1.65.
InMode (NASDAQ: INMD) last released its earnings results on Wednesday July 28th. The healthcare company reported $ 0.51 EPS for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.24 by $ 0.27. InMode had a net margin of 44.34% and a return on equity of 45.87%. The company had sales of $ 87.33 million for the quarter.
Several equity analysts have commented on INMD stocks. Barclays raised its price target on InMode shares from $ 60.00 to $ 85.00 and rated the stock as overweight in a research report on Wednesday October 13th. In a research report on Friday, October 1st, TheStreet downgraded InMode’s shares from a b- to an ac rating. Needham & Company LLC cut its price target on InMode stock to $ 103.00 and issued a buy rating for the stock in a report on Tuesday, October 12th. Robert W. Baird raised his target price on InMode shares from $ 62.00 to $ 80.00 and outperformed the stock in a report on Wednesday, October 13th. Finally, Canaccord Genuity raised its price target on InMode stock from $ 60.00 to $ 80.00 and gave the stock a buy rating in a report on Wednesday, October 13th. One investment analyst has given the stock a hold rating and five a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of $ 71.58.
The increase in the number of states allowing the recreational and medicinal use of cannabis means that cannabis growers, processors and manufacturers are often unable to keep pace with growing demand. A Seattle cannabis maker stands ready to sell products across state lines to ease shortages. This could drive the company’s shares higher.
A hedge fund recently increased its stake in InMode stock. Morgan Stanley has increased its stake in InMode Ltd. (NASDAQ: INMD) up 19.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor held 546,042 shares in the healthcare company after buying an additional 88,915 shares during the reporting period. Morgan Stanley, at the time of its most recent filing with the Securities and Exchange Commission, owned approximately 1.71% of InMode, valued at $ 51,699,000.
InMode Ltd. designs, develops, manufactures and markets minimally invasive aesthetic medical devices based on its proprietary radio frequency assisted lipolysis and deep subdermal fractional radio frequency technologies. The company offers minimally invasive aesthetic medical products for various interventions, such as liposuction with simultaneous skin tightening, body and face contouring and ablative skin rejuvenation treatments.
Recommended story: what is the quick ratio?
This instant news alert was generated through narrative science technology and financial data from MarketBeat to deliver the fastest, most accurate coverage to readers. This story has been reviewed by the editorial staff of MarketBeat prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $ 1,000 in InMode now?
Before you consider InMode, this is what you should hear.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts are quietly whispering to their customers to buy now, before the wider market takes hold … and InMode wasn’t on the list.
While InMode is currently rated “Buy” by analysts, top-rated analysts think these five stocks are better buys.
Check out the 5 stocks here