DDD Partners LLC Increases Holdings in InMode Ltd. (NASDAQ:INMD)

DDD Partners LLC increased its stake in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 63.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 989,903 shares of the healthcare company's stock after purchasing an additional 382,938 shares during the quarter. InMode makes up 2.1% of DDD Partners LLC's holdings, making the stock its 21st largest position. DDD Partners LLC owned 1.42% of InMode worth $17,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. CWM LLC raised its stake in InMode by 106.4% in the first quarter. CWM LLC now owns 2,369 shares of the healthcare company's stock valued at $42,000 after buying an additional 1,221 shares during the last quarter. Orion Capital Management LLC purchased a new stake in InMode in the fourth quarter valued at about $65,000. Farther Finance Advisors LLC raised its stake 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 buying an additional 1,154 shares during the last quarter. Covestor Ltd raised its stake in InMode by 13.9% in the fourth quarter. Covestor Ltd now owns 5,936 shares of the healthcare company's stock valued at $99,000 after buying an additional 723 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in InMode by 6,128.7% in the fourth quarter. Lazard Asset Management LLC now owns 6,291 shares of the healthcare company's stock valued at $105,000 after buying an additional 6,190 shares during the last quarter. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

InMode Stock Performance

InMode stock traded down $0.20 during midday trading on Friday, hitting $13.90. 1,246,840 shares of the company were exchanged, compared to its average volume of 1,200,549. The firm has a market capitalization of $878.62 million, a PE ratio of 5.97 and a beta of 1.95. InMode Ltd. has a fifty-two week low of $13.14 and a fifty-two week high of $19.85. The business has a fifty day simple moving average of $14.39 and a two-hundred day simple moving average of $16.12.

InMode (NASDAQ:INMD - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $82.21 million. InMode had a return on equity of 17.17% and a net margin of 44.79%. The firm's revenue was down 3.0% on a year-over-year basis. During the same period last year, the business earned $0.32 earnings per share. As a group, equities analysts expect that InMode Ltd. will post 1.75 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on INMD. UBS Group decreased their price target on InMode from $19.00 to $16.25 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. BTIG Research cut InMode from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 29th. Needham & Company LLC restated a "hold" rating on shares of InMode in a research note on Monday, April 28th. Canaccord Genuity Group restated a "hold" rating and issued a $15.00 price objective on shares of InMode in a research note on Friday, July 11th. Finally, Robert W. Baird cut InMode from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $22.00 to $16.00 in a research note on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, InMode currently has an average rating of "Hold" and an average 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.