Cary Street Partners Financial LLC Makes New $2.21 Million Investment in InMode Ltd. (NASDAQ:INMD)

Cary Street Partners Financial LLC bought a new position in InMode Ltd. (NASDAQ:INMD - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 132,552 shares of the healthcare company's stock, valued at approximately $2,214,000. Cary Street Partners Financial LLC owned approximately 0.19% of InMode as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of INMD. Harvey Capital Management Inc. grew its position in InMode by 1.4% during the 4th quarter. Harvey Capital Management Inc. now owns 51,490 shares of the healthcare company's stock worth $860,000 after purchasing an additional 700 shares during the period. Thrivent Financial for Lutherans grew its holdings in InMode by 6.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 12,586 shares of the healthcare company's stock worth $210,000 after acquiring an additional 721 shares during the period. Covestor Ltd raised its position in InMode by 13.9% during the fourth quarter. Covestor Ltd now owns 5,936 shares of the healthcare company's stock valued at $99,000 after acquiring an additional 723 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in InMode by 26.2% in the fourth quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company's stock valued at $93,000 after acquiring an additional 1,154 shares during the period. Finally, Invesco Ltd. boosted its position in InMode by 1.5% in the 4th quarter. Invesco Ltd. now owns 97,475 shares of the healthcare company's stock worth $1,628,000 after purchasing an additional 1,444 shares in the last quarter. Hedge funds and other institutional investors own 68.04% of the company's stock.

Analysts Set New Price Targets

INMD has been the subject of a number of analyst reports. Jefferies Financial Group decreased their price objective on shares of InMode from $16.00 to $15.00 and set a "hold" rating for the company in a research report on Monday, April 14th. UBS Group lowered their price target on InMode from $19.00 to $16.25 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Canaccord Genuity Group reduced their price objective on shares of InMode from $17.00 to $15.00 and set a "hold" rating on the stock in a research report on Tuesday, April 29th. BTIG Research cut InMode from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 29th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of InMode in a research report on Monday, April 28th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, InMode currently has an average rating of "Hold" and a consensus price target of $18.54.

InMode Price Performance

INMD stock traded up $0.39 during midday trading on Monday, reaching $14.84. 458,048 shares of the stock were exchanged, compared to its average volume of 1,186,849. The company has a fifty day moving average price of $16.43 and a 200 day moving average price of $17.44. InMode Ltd. has a 52 week low of $13.68 and a 52 week high of $19.85. The stock has a market capitalization of $1.03 billion, a PE ratio of 6.29 and a beta of 2.02.

InMode (NASDAQ:INMD - Get Free Report) last announced its earnings results on Monday, April 28th. The healthcare company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.14). The company had revenue of $77.87 million during 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%. The business's revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 earnings per share. As a group, analysts anticipate that InMode Ltd. will post 1.75 earnings per share for the current fiscal year.

InMode Company Profile

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.