Denali Advisors LLC acquired a new stake in shares of InMode Ltd. (NASDAQ:INMD - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 31,551 shares of the healthcare company's stock, valued at approximately $560,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of InMode during the fourth quarter valued at $1,332,000. Allspring Global Investments Holdings LLC acquired a new position in shares of InMode during the first quarter valued at $192,000. Handelsbanken Fonder AB lifted its stake in shares of InMode by 34.3% during the first quarter. Handelsbanken Fonder AB now owns 36,400 shares of the healthcare company's stock valued at $646,000 after acquiring an additional 9,300 shares during the period. Bessemer Group Inc. acquired a new position in InMode in the first quarter valued at about $617,000. Finally, GAMMA Investing LLC lifted its stake in InMode by 13,923.8% in the first quarter. GAMMA Investing LLC now owns 2,945 shares of the healthcare company's stock valued at $520,000 after buying an additional 2,924 shares during the period. 68.04% of the stock is currently owned by institutional investors.
InMode Trading Up 2.8%
Shares of INMD stock traded up $0.41 during trading on Wednesday, hitting $14.82. The company's stock had a trading volume of 496,322 shares, compared to its average volume of 1,198,851. The company has a market cap of $936.77 million, a PE ratio of 6.37 and a beta of 1.95. The business has a fifty day moving average of $14.39 and a 200-day moving average of $16.11. InMode Ltd. has a 52 week low of $13.14 and a 52 week high of $19.85.
InMode (NASDAQ:INMD - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $82.21 million. During the same period in the prior year, the business posted $0.32 EPS. InMode's quarterly revenue was down 3.0% on a year-over-year basis. As a group, research analysts predict that InMode Ltd. will post 1.75 EPS for the current year.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. Jefferies Financial Group decreased their price objective on InMode from $16.00 to $15.00 and set a "hold" rating for the company in a report on Monday, April 14th. Robert W. Baird cut InMode from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $22.00 to $16.00 in a research report on Monday, April 28th. UBS Group reduced their price target on InMode from $19.00 to $16.25 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Baird R W cut InMode from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Finally, Needham & Company LLC reissued a "hold" rating on shares of InMode in a research report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, InMode has a consensus rating of "Hold" and an average price target of $18.54.
Check Out Our Latest Stock Report on INMD
About InMode
(
Free Report)
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.
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