InMode Ltd. (NASDAQ:INMD) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its position in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 36.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,254 shares of the healthcare company's stock after selling 40,479 shares during the quarter. Bank of America Corp DE owned approximately 0.10% of InMode worth $1,173,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC boosted its holdings in shares of InMode by 113.5% during the third quarter. Barclays PLC now owns 169,630 shares of the healthcare company's stock worth $2,876,000 after purchasing an additional 90,173 shares during the last quarter. Meritage Portfolio Management boosted its stake in InMode by 12.3% in the 4th quarter. Meritage Portfolio Management now owns 16,575 shares of the healthcare company's stock worth $277,000 after buying an additional 1,810 shares during the last quarter. Harvey Capital Management Inc. boosted its stake in InMode by 1.4% in the 4th quarter. Harvey Capital Management Inc. now owns 51,490 shares of the healthcare company's stock worth $860,000 after buying an additional 700 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of InMode by 14.6% during the 4th quarter. Principal Financial Group Inc. now owns 99,562 shares of the healthcare company's stock valued at $1,663,000 after acquiring an additional 12,661 shares during the last quarter. Finally, D.A. Davidson & CO. increased its stake in shares of InMode by 5.7% during the 4th quarter. D.A. Davidson & CO. now owns 43,651 shares of the healthcare company's stock valued at $729,000 after acquiring an additional 2,373 shares during the last quarter. 68.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INMD has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered their target price on shares of InMode from $16.00 to $15.00 and set a "hold" rating for the company in a report on Monday, April 14th. UBS Group dropped their price objective on InMode from $19.00 to $16.25 and set a "neutral" rating for the company in a report on Tuesday, April 29th. BTIG Research lowered InMode from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 29th. Robert W. Baird downgraded InMode from an "outperform" rating to a "neutral" rating and lowered their price target for the company from $22.00 to $16.00 in a research report on Monday, April 28th. Finally, Barclays cut their price objective on InMode from $29.00 to $24.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $18.54.

InMode Stock Performance

Shares of NASDAQ:INMD remained flat at $14.56 during midday trading on Tuesday. 739,308 shares of the company traded hands, compared to its average volume of 1,184,547. The firm has a fifty day moving average price of $14.77 and a two-hundred day moving average price of $16.88. InMode Ltd. has a 1-year low of $13.68 and a 1-year high of $19.85. The firm has a market capitalization of $920.32 million, a P/E ratio of 6.20 and a beta of 1.98.

InMode (NASDAQ:INMD - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The healthcare company reported $0.31 EPS 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 company had revenue of $77.87 million for the quarter, compared to analyst estimates of $82.21 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The company's revenue for the quarter was down 3.0% compared to the same quarter last year. On average, equities research analysts forecast that InMode Ltd. will post 1.75 EPS 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.