InMode (NASDAQ:INMD) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

InMode (NASDAQ:INMD) posted its quarterly earnings results on Wednesday. The healthcare company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05, FiscalAI reports. InMode had a return on equity of 11.52% and a net margin of 19.94%. The firm had revenue of $92.14 million during the quarter, compared to the consensus estimate of $91.58 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year.

InMode Stock Performance

Shares of NASDAQ:INMD opened at $13.19 on Friday. The company has a market cap of $758.16 million, a PE ratio of 11.16 and a beta of 1.98. InMode has a 52 week low of $12.72 and a 52 week high of $16.67. The firm has a 50 day simple moving average of $14.13 and a 200 day simple moving average of $14.30.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on INMD shares. Robert W. Baird reduced their price target on shares of InMode from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday. Weiss Ratings lowered InMode from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, November 2nd. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $16.33.

About InMode

InMode Ltd. is an Israel-based medical technology company that develops energy-based systems for minimally invasive aesthetic and medical procedures. Its technologies use radiofrequency energy to support treatments such as body contouring, skin tightening and facial rejuvenation, as well as certain women’s health applications. The company’s product portfolio includes platforms and handpieces such as BodyTite and FaceTite for body and facial contouring, and Morpheus8 for fractional radiofrequency skin treatments.