BNP Paribas Financial Markets Takes $954,000 Position in InMode Ltd. (NASDAQ:INMD)

BNP Paribas Financial Markets acquired a new position in InMode Ltd. (NASDAQ:INMD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 57,149 shares of the healthcare company's stock, valued at approximately $954,000. BNP Paribas Financial Markets owned 0.08% of InMode as of its most recent filing with the SEC.

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

InMode Price Performance

NASDAQ:INMD traded down $0.10 during midday trading on Monday, reaching $14.23. The stock had a trading volume of 774,297 shares, compared to its average volume of 1,188,157. InMode Ltd. has a 1-year low of $13.68 and a 1-year high of $19.85. The firm's fifty day simple moving average is $15.52 and its 200-day simple moving average is $17.17. The stock has a market capitalization of $899.46 million, a P/E ratio of 6.06 and a beta of 2.02.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Canaccord Genuity Group cut their price target on shares of InMode from $17.00 to $15.00 and set a "hold" rating on the stock in a report on Tuesday, April 29th. UBS Group cut their price target on shares of InMode from $19.00 to $16.25 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. BTIG Research lowered shares of InMode from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 29th. Jefferies Financial Group lowered their target price on shares of InMode from $16.00 to $15.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Finally, Robert W. Baird lowered shares of InMode from an "outperform" rating to a "neutral" rating and lowered their target price for the company from $22.00 to $16.00 in a research note on Monday, April 28th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $18.54.

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.