InMode (NASDAQ:INMD) Releases Quarterly Earnings Results, Misses Expectations By $0.19 EPS

InMode (NASDAQ:INMD) released its quarterly earnings data on Monday. The healthcare company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.19), Zacks reports. The business had revenue of $77.87 million for the quarter, compared to the consensus estimate of $82.21 million. InMode had a net margin of 45.91% and a return on equity of 18.25%. InMode’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 earnings per share.

InMode Trading Down 0.5 %

Shares of NASDAQ INMD opened at $14.19 on Tuesday. The business’s fifty day simple moving average is $17.25 and its 200-day simple moving average is $17.63. The stock has a market cap of $987.04 million, a P/E ratio of 6.04 and a beta of 1.96. InMode has a 12-month low of $13.68 and a 12-month high of $19.85.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on INMD shares. Robert W. Baird downgraded shares of InMode from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $22.00 to $16.00 in a research note on Monday. BTIG Research downgraded InMode from a “buy” rating to a “neutral” rating in a report on Tuesday. Needham & Company LLC restated a “hold” rating on shares of InMode in a report on Monday. Baird R W cut shares of InMode from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Canaccord Genuity Group cut their price target on shares of InMode from $17.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $20.00.

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.