Inmode Ltd (NASDAQ: INMD) stock jumped 2.31% on Monday to $22.60 against a previous-day closing price of $22.09. With 2.0 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.04 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $22.89 whereas the lowest price it dropped to was $22.01. The 52-week range on INMD shows that it touched its highest point at $48.25 and its lowest point at $18.57 during that stretch. It currently has a 1-year price target of $35.40. Beta for the stock currently stands at 2.23.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of INMD was up-trending over the past week, with a rise of 14.03%, but this was up by 14.72% over a month. Three-month performance dropped to -40.21% while six-month performance fell -34.03%. The stock lost -38.70% in the past year, while it has lost -36.69% so far this year. A look at the trailing 12-month EPS for INMD yields 2.10 with Next year EPS estimates of 2.74. For the next quarter, that number is 0.69. This implies an EPS growth rate of 5.64% for this year and 7.04% for next year. EPS is expected to grow by 13.80% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 70.78%.
Float and Shares Shorts:
At present, 82.54 million INMD shares are outstanding with a float of 76.64 million shares on hand for trading. On Oct 30, 2023, short shares totaled 9.57 million, which was 11.50% higher than short shares on Sep 28, 2023. In addition to Mr. Yair Malca as the firm’s Chief Financial Officer, Mr. Alon Yaari serves as its Vice President of Operations.
Institutional Ownership:
Through their ownership of 62.39% of INMD’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 47.16% of INMD, in contrast to 24.68% held by mutual funds. As the largest shareholder in INMD with 5.77% of the stake, BlackRock Fund Advisors holds 4,803,387 shares worth 4,803,387. A second-largest stockholder of INMD, Renaissance Technologies LLC, holds 2,384,962 shares, controlling over 2.87% of the firm’s shares. Acadian Asset Management LLC is the third largest shareholder in INMD, holding 2,156,691 shares or 2.59% stake. With a 2.16% stake in INMD, the iShares Russell 2000 ETF is the largest stakeholder. A total of 1,801,203 shares are owned by the mutual fund manager. The Delaware Ivy Small Cap Growth Fun, which owns about 0.94% of INMD stock, is the second-largest Mutual Fund holder. It holds 778,483 shares valued at 14.87 million. Swedbank Robur Smalbolagsfond Glo holds 0.91% of the stake in INMD, owning 757,000 shares worth 14.46 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for INMD since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With INMD analysts setting a high price target of $54.00 and a low target of $22.00, the average target price over the next 12 months is $35.40. Based on these targets, INMD could surge 138.94% to reach the target high and fall by -2.65% to reach the target low. Reaching the average price target will result in a growth of 56.64% from current levels.
