Deutsche Bank AG Reduces Stock Holdings in InMode Ltd. $INMD

Key Points

• Deutsche Bank AG reduced its stake in InMode Ltd. by 25.4%, selling 16,914 shares, leaving it with approximately 49,786 shares valued at $883,000.
• Recent analyst ratings for InMode have been largely negative, with multiple firms downgrading the stock and adjusting price targets, with a consensus rating of "Hold" and an average target price of $18.04.
• InMode's latest earnings report showed a miss on EPS and revenue estimates, with a reported EPS of $0.47, falling short of the expected $0.50.

Deutsche Bank AG cut its position in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 25.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,786 shares of the healthcare company's stock after selling 16,914 shares during the quarter. Deutsche Bank AG owned about 0.07% of InMode worth $883,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of INMD. CWM LLC grew its holdings in InMode by 106.4% during the 1st quarter. CWM LLC now owns 2,369 shares of the healthcare company's stock worth $42,000 after acquiring an additional 1,221 shares during the period. Orion Capital Management LLC bought a new stake in shares of InMode during the 4th quarter valued at about $65,000. Lazard Asset Management LLC grew its stake in InMode by 6,128.7% during the fourth quarter. Lazard Asset Management LLC now owns 6,291 shares of the healthcare company's stock worth $105,000 after purchasing an additional 6,190 shares during the period. Quarry LP increased its holdings in InMode by 100.0% in the fourth quarter. Quarry LP now owns 7,561 shares of the healthcare company's stock worth $126,000 after purchasing an additional 3,780 shares in the last quarter. Finally, Bridgefront Capital LLC bought a new stake in InMode in the fourth quarter worth approximately $178,000. Institutional investors and hedge funds own 68.04% of the company's stock.

InMode Stock Down 1.8%

InMode stock traded down $0.27 during midday trading on Thursday, hitting $14.92. 2,405,990 shares of the stock were exchanged, compared to its average volume of 1,271,058. InMode Ltd. has a 52-week low of $13.14 and a 52-week high of $19.85. The business's 50-day moving average price is $14.38 and its 200-day moving average price is $15.61. The stock has a market capitalization of $943.09 million, a price-to-earnings ratio of 6.04 and a beta of 1.93.

InMode (NASDAQ:INMD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The healthcare company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). InMode had a return on equity of 18.38% and a net margin of 44.50%.The firm had revenue of $95.60 million for the quarter, compared to the consensus estimate of $98.45 million. During the same period in the prior year, the business earned $0.34 EPS. InMode's quarterly revenue was up 10.6% compared to the same quarter last year. On average, sell-side analysts predict that InMode Ltd. will post 1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Barclays reduced their price objective on shares of InMode from $24.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Needham & Company LLC reissued a "hold" rating on shares of InMode in a research note on Wednesday, July 30th. Finally, Canaccord Genuity Group reaffirmed a "hold" rating and issued a $15.00 price target on shares of InMode in a research note on Friday, July 11th. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, InMode has an average rating of "Hold" and a consensus target price of $18.04.

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.