Balyasny Asset Management L.P. Sells 173,351 Shares of InMode Ltd. (NASDAQ:INMD)

Balyasny Asset Management L.P. lessened its holdings in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 72.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 64,360 shares of the healthcare company's stock after selling 173,351 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.09% of InMode worth $1,075,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INMD. SBI Securities Co. Ltd. acquired a new position in InMode during the fourth quarter valued at approximately $87,000. Farther Finance Advisors LLC boosted its stake in InMode by 26.2% during the fourth quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company's stock worth $93,000 after buying an additional 1,154 shares in the last quarter. Covestor Ltd boosted its stake in InMode by 13.9% during the fourth quarter. Covestor Ltd now owns 5,936 shares of the healthcare company's stock worth $99,000 after buying an additional 723 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of InMode during the fourth quarter valued at $114,000. Finally, Quarry LP lifted its holdings in shares of InMode by 100.0% during the fourth quarter. Quarry LP now owns 7,561 shares of the healthcare company's stock valued at $126,000 after acquiring an additional 3,780 shares during the period. Institutional investors own 68.04% of the company's stock.

InMode Price Performance

InMode stock traded down $0.04 during mid-day trading on Friday, hitting $14.67. 1,037,669 shares of the company's stock traded hands, compared to its average volume of 1,188,011. The firm has a 50 day simple moving average of $16.00 and a two-hundred day simple moving average of $17.34. InMode Ltd. has a fifty-two week low of $13.68 and a fifty-two week high of $19.85. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 6.24 and a beta of 2.02.

InMode (NASDAQ:INMD - Get Free Report) last posted its earnings results on Monday, April 28th. The healthcare company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.14). InMode had a return on equity of 18.25% and a net margin of 45.91%. The firm had revenue of $77.87 million for the quarter, compared to analyst estimates of $82.21 million. During the same period in the prior year, the business posted $0.32 EPS. The firm's quarterly revenue was down 3.0% compared to the same quarter last year. On average, research analysts anticipate that InMode Ltd. will post 1.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on INMD shares. Robert W. Baird cut InMode from an "outperform" rating to a "neutral" rating and cut their price target for the company from $22.00 to $16.00 in a report on Monday, April 28th. BTIG Research cut InMode from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 29th. Canaccord Genuity Group decreased their price objective on InMode from $17.00 to $15.00 and set a "hold" rating for the company in a research report on Tuesday, April 29th. UBS Group decreased their price objective on InMode from $19.00 to $16.25 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Finally, Barclays reduced their price target on InMode from $29.00 to $24.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $18.54.

InMode 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.