Meros Investment Management LP Takes $3.12 Million Position in InMode Ltd. $INMD

Key Points

• Meros Investment Management LP has acquired 176,002 shares of InMode Ltd. for approximately $3.1 million, making it the firm's 25th largest holding.
• Institutional investors and hedge funds collectively own 68.04% of InMode's stock, indicating strong institutional interest.
• InMode's recent earnings report showed a miss on EPS estimates and a revenue of $95.60 million, lower than the expected $98.45 million.

Meros Investment Management LP bought a new position in shares of InMode Ltd. (NASDAQ:INMD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 176,002 shares of the healthcare company's stock, valued at approximately $3,122,000. InMode makes up about 1.8% of Meros Investment Management LP's portfolio, making the stock its 25th biggest position. Meros Investment Management LP owned 0.25% of InMode at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in INMD. American Century Companies Inc. raised its position in shares of InMode by 6.1% during the first quarter. American Century Companies Inc. now owns 18,994 shares of the healthcare company's stock worth $337,000 after purchasing an additional 1,087 shares during the period. Legal Advantage Investments Inc. boosted its stake in InMode by 99.9% in the 1st quarter. Legal Advantage Investments Inc. now owns 56,020 shares of the healthcare company's stock worth $994,000 after purchasing an additional 28,000 shares during the period. Nuveen LLC purchased a new stake in shares of InMode in the 1st quarter valued at about $4,444,000. Exencial Wealth Advisors LLC bought a new position in InMode during the 1st quarter worth approximately $182,000. Finally, Cary Street Partners Financial LLC grew its position in shares of InMode by 1.0% in the 1st quarter. Cary Street Partners Financial LLC now owns 133,867 shares of the healthcare company's stock worth $2,375,000 after buying an additional 1,315 shares during the last quarter. 68.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on INMD shares. Barclays dropped their target price on InMode from $24.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. UBS Group decreased their price objective on InMode from $19.00 to $16.25 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Canaccord Genuity Group restated a "hold" rating and set a $15.00 price objective on shares of InMode in a report on Friday, July 11th. BTIG Research cut InMode from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 29th. Finally, Baird R W cut InMode from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $18.04.

InMode Stock Performance

Shares of INMD stock traded up $0.0850 during trading hours on Thursday, hitting $14.2750. 310,167 shares of the company were exchanged, compared to its average volume of 1,270,006. The business's 50-day simple moving average is $14.26 and its two-hundred day simple moving average is $15.71. InMode Ltd. has a one year low of $13.14 and a one year high of $19.85. The stock has a market capitalization of $902.31 million, a price-to-earnings ratio of 5.78 and a beta of 1.93.

InMode (NASDAQ:INMD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The healthcare company reported $0.47 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.03). The company had revenue of $95.60 million for the quarter, compared to analyst estimates of $98.45 million. InMode had a net margin of 44.50% and a return on equity of 18.38%. InMode's revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS. As a group, analysts anticipate that InMode Ltd. will post 1.75 EPS for the current fiscal year.

About InMode

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.