The share price of InMode Ltd. (NASDAQ:INMD) fell to $33.95 per share on Tuesday from $34.33. While InMode Ltd. has underperformed by -1.11%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, INMD fell by -40.86%, with highs and lows ranging from $99.27 to $20.60, whereas the simple moving average fell by -28.16% in the last 200 days.
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On May 25, 2021, Barclays started tracking InMode Ltd. (NASDAQ: INMD) recommending Overweight. A report published by Needham on May 18, 2021, Initiated its previous ‘Buy’ rating for INMD. UBS also rated INMD shares as ‘Buy’, setting a target price of $28 on the company’s shares in an initiating report dated September 03, 2019. Robert W. Baird Initiated an Outperform rating on September 03, 2019, and assigned a price target of $27. Canaccord Genuity initiated its ‘Buy’ rating for INMD, as published in its report on September 03, 2019. Barclays’s report from September 03, 2019 suggests a price prediction of $27 for INMD shares, giving the stock a ‘Overweight’ rating.
Analysis of InMode Ltd. (INMD)
Further, the quarter-over-quarter increase in sales is 30.00%, showing a positive trend in the upcoming months.
To gain a thorough understanding of InMode Ltd.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of 41.60% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 8.30, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and INMD is recording an average volume of 2.10M. On a monthly basis, the volatility of the stock is set at 6.80%, whereas on a weekly basis, it is put at 6.78%, with a gain of 22.25% over the past seven days. Furthermore, long-term investors anticipate a median target price of $51.00, showing growth from the present price of $33.95, which can serve as yet another indication of whether INMD is worth investing in or should be passed over.
How Do You Analyze InMode Ltd. Shares?
A leading company in the Medical Devices sector, InMode Ltd. (INMD) is based in the Israel. When comparing InMode Ltd. shares with other companies under Healthcare, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 16.91, there is a growth in quarterly earnings of 9.00%.
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 16.61%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 62.80% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in INMD shares?
The recent increase in stakes in INMD appears to be a result of several institutional investors and hedge funds increasing their positions. Renaissance Technologies LLC’s position in INMD has increased by 23.16% in the first quarter. The company now owns 3,181,662 shares of the stock, with a value of $71.3 million, following the purchase of 598,300 additional shares during the last quarter. Acadian Asset Management LLC made another decreased to its shares in INMD during the first quarter, downing its stake by -3.43%. During the last quarter, the company dropped down -107,209 additional shares for a total stake of worth $67.62 million, bringing number of shares owned by the company to 3,017,257.
During the first quarter, 1832 Asset Management LP subtracted a 100 position in INMD. William Blair Investment Manageme purchased an additional 0.27 million shares in the last quarter, increasing its holdings by 16.42%, now holding 1.93 million shares worth $43.15 million. At the end of the first quarter, Millennium Management LLC increased its INMD holdings by 205.69% and now holds 1.6 million INMD shares valued at $35.78 million with the added 1.07 million shares during the period. INMD shares are owned by institutional investors to the tune of 62.80% at present.