Stock analysts at UBS, assumed coverage of shares of InMode Ltd. (NASDAQ:INMD) with Buy recommendation, according to their opinion released on September 03.
For the period that ended January 15, 2020, the short interest in InMode Ltd. (NASDAQ:INMD) stock is on the up. The 12.29% rise could be an indication that investors and traders expect a drop in the share price, often as a result of a drop in the business’ fundamentals. The average brokerage opinion at 1.5 suggests disposing off these shares. Between December 31 and January 15, the total count of shorted shares totaled 2.66 million. That number was 290,947 more shares compared with the total of 2.37 million shares in the space of prior two weeks, which suggests more traders or funds are betting that the company stock will move down. The average daily volume for INMD at the January 15th settlement surged to 1,484,871, versus 1,457,477 at the December 31st report. That led days to cover to move at 1.78977, a 10.22% increase compared to the 1.623786 days to cover recorded at the prior short interest data release.
Let’s take a glimpse at some insider activity at InMode Ltd. (NASDAQ:INMD) and observe the pattern. The earliest insider trade happened on 07/02/2012. Thornton Yvonne parted with a total of 0.5 thousand shares of the firm at average share price of $13.79. The total amount for the sale was set at $6.9 thousand. On completing this exchange, the Director account balance was 23.06 thousand shares. The stock grew 225.74 percent from that insider sale. On 04/02/2012, Thornton Yvonne, Director, did a sale of 0.5 thousand shares at a price of $11.94 per share. This got rid of 5.97 thousand shares from the insider’s fortune and the stock experienced a 276.21 percent rally in price since the news became public. This exchange saw 23.56 thousand shares get out from the Director account. On 12/30/2011, Director Thornton Yvonne recorded a sale transaction valued at $3.92 thousand. The sale at $7.84 a share has eliminated 0.5 thousand shares from the insider’s portfolio position. Meanwhile, shares price witnessed 472.96 percent increase since the transaction reporting date. The company insider is left with 18.5 thousand shares remaining in the account. Mintz Andrew R., who works as Division President at the company, performed a sale of 2.29 thousand shares in a transaction worth $18.37 thousand. The disposal recorded on 11/30/2011 was priced at $8.01 per share. The stock price soared 460.8 percent since the transaction. Mintz Andrew R. currently holds a stake of 9.69 thousand in INMD stock which is worth $435.53 thousand after the insider selling.
InMode Ltd. (INMD) is most likely going to rise 10.07 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $55 as 12-month high price target. This represents a whopping 22.3 percent increase from the current trading price of shares. The 52-week median price target given by the analysts is $49, which means a return possibility of 8.96 percent in comparison with the closing price of the stock of $44.97 in recent trading session. The lowest price set for the stock is $45 which is just above 0.07 percent from INMD share’s price at the end of session.
The stock is lingering around the initial support level of $46.92. After this, the following support is at the zone of $44.98. Up until the time the INMD stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 50.74 on the daily chart, and this may be a cause for concern. In case the price goes below $44.98 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $49.84 level may cause a pull-back move approaching $50.82 mark.
In the recent trading session, InMode Ltd. (NASDAQ:INMD) shares lost -7.98% or -3.9 points to reach at $44.97 with a heavy trading volume of 1.536 million shares. It opened the trading session at $45.95, the shares rose to $48.87 and dropped to $45.95, the range by which the price of stock traded the whole session. The company now has a market cap of $1.68 billion and currently has 34.35 million outstanding shares. InMode Ltd. (INMD) stock has accumulated 32.62 percent of market value in 21 trading days.
INMD stock’s trailing 3-year beta is 0, meaning there will be a lower rate of return, although posing a lower risk. The part of a firm’s profit given to each outstanding share of regular stock was $1.22 share in the trailing 52 weeks. The stock’s value surged 24.67 percent year to date (YTD) compared to a decline of 0 percent in 52 week’s period. The firm’s shares are still trading -23.47 percent below its 1-year high of $58.76 and 244.33 percent up from 52-week low of $13.06. The average consensus ranking on the company is 1.5, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a buy.
InMode Ltd. (INMD) shares are trading at a P/E ratio of 37.94 times earnings posted in the trailing 12 months. The industry INMD deals with has an average P/E of 40.27. Its P/B ratio is standing at 17.31X compared to the 9.83 industry average. It is additionally sporting a 4.98 on the Price-to-Sales ratio, compared to the industry’s P/S average of 1.15. InMode Ltd. has a 86.9% gross profit margin, with its operating margin around 31.1%. Alongside this, the company’s net profit margin currently stands at 30.3%.
Past records have indicated that shares in InMode Ltd. rose on 2 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings.