Denali Advisors LLC Makes New $560,000 Investment in InMode Ltd. (NASDAQ:INMD)

Denali Advisors LLC purchased a new position in shares of InMode Ltd. (NASDAQ:INMD - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 31,551 shares of the healthcare company's stock, valued at approximately $560,000.

A number of other institutional investors have also added to or reduced their stakes in INMD. CWM LLC raised its holdings in shares of InMode by 106.4% during the 1st 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 in the last quarter. Orion Capital Management LLC purchased a new position in InMode in the 4th quarter worth approximately $65,000. Farther Finance Advisors LLC grew its position in shares of InMode by 26.2% in the 4th 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 during the last quarter. Covestor Ltd grew its position in shares of InMode by 13.9% in the 4th quarter. Covestor Ltd now owns 5,936 shares of the healthcare company's stock worth $99,000 after buying an additional 723 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of InMode by 6,128.7% in the 4th quarter. Lazard Asset Management LLC now owns 6,291 shares of the healthcare company's stock worth $105,000 after buying an additional 6,190 shares during the last quarter. Hedge funds and other institutional investors own 68.04% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on INMD. Canaccord Genuity Group reissued a "hold" rating and issued a $15.00 target price on shares of InMode in a report on Friday, July 11th. Baird R W cut InMode from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. UBS Group lowered their target price on InMode from $19.00 to $16.25 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. BTIG Research downgraded InMode from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 29th. Finally, Robert W. Baird downgraded InMode from an "outperform" rating to a "neutral" rating and decreased 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 given a buy rating to the stock. Based on data from MarketBeat.com, InMode currently has a consensus rating of "Hold" and a consensus price target of $18.54.

InMode Trading Up 2.6%

Shares of INMD traded up $0.36 during trading hours on Tuesday, hitting $14.32. The company had a trading volume of 460,467 shares, compared to its average volume of 1,198,244. The company has a market capitalization of $904.91 million, a PE ratio of 6.14 and a beta of 1.95. InMode Ltd. has a one year low of $13.14 and a one year high of $19.85. The company's fifty day moving average price is $14.39 and its two-hundred day moving average price is $16.11.

InMode (NASDAQ:INMD - Get Free Report) last announced its 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). InMode had a net margin of 44.79% and a return on equity of 17.17%. The business 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 company earned $0.32 earnings per share. The company's quarterly revenue was down 3.0% on a year-over-year basis. Analysts forecast that InMode Ltd. will post 1.75 earnings per share for the current 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.