Focus Partners Wealth Purchases 54,948 Shares of InMode Ltd. $INMD

Key Points

• Focus Partners Wealth increased its holdings in InMode Ltd. by 31.8% in the first quarter, owning a total of 227,959 shares valued at approximately $4.04 million.
• InMode reported a Q2 EPS of $0.47, missing analyst estimates of $0.50, while revenue of $95.60 million was below the anticipated $98.45 million.
• Barclays cut their target price on InMode from $24.00 to $21.00, reflecting a shift in analyst sentiment, with most recommendations now being a "hold."

Focus Partners Wealth lifted its holdings in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 31.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,959 shares of the healthcare company's stock after buying an additional 54,948 shares during the quarter. Focus Partners Wealth owned about 0.33% of InMode worth $4,044,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in INMD. CWM LLC raised its holdings in InMode by 106.4% in the 1st quarter. CWM LLC now owns 2,369 shares of the healthcare company's stock worth $42,000 after purchasing an additional 1,221 shares in the last quarter. Orion Capital Management LLC bought a new stake in InMode in the fourth quarter worth $65,000. Summit Securities Group LLC purchased a new position in InMode during the first quarter worth $70,000. Lazard Asset Management LLC boosted its stake in shares of InMode by 6,128.7% during the fourth quarter. Lazard Asset Management LLC now owns 6,291 shares of the healthcare company's stock valued at $105,000 after purchasing an additional 6,190 shares during the period. Finally, Exencial Wealth Advisors LLC purchased a new stake in InMode in the first quarter worth about $182,000. Hedge funds and other institutional investors own 68.04% of the company's stock.

Analyst Ratings Changes

INMD has been the topic of several recent analyst reports. Barclays cut their price objective on shares of InMode from $24.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Needham & Company LLC reissued a "hold" rating on shares of InMode in a research report on Wednesday, July 30th. Finally, Canaccord Genuity Group restated a "hold" rating and set a $15.00 target price on shares of InMode in a report on Friday, July 11th. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, InMode presently has a consensus rating of "Hold" and a consensus target price of $18.04.

InMode Trading Down 0.2%

NASDAQ INMD traded down $0.03 during mid-day trading on Wednesday, reaching $14.93. 640,800 shares of the company's stock traded hands, compared to its average volume of 913,367. InMode Ltd. has a 1-year low of $13.14 and a 1-year high of $19.85. The company has a fifty day simple moving average of $14.51 and a 200-day simple moving average of $15.20. The company has a market cap of $943.73 million, a price-to-earnings ratio of 6.04 and a beta of 2.00.

InMode (NASDAQ:INMD - Get Free Report) last released its earnings results on Wednesday, July 30th. The healthcare company reported $0.47 EPS for the quarter, missing analysts' consensus estimates 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. The company's quarterly revenue was up 10.6% on a year-over-year basis. Equities research analysts forecast that InMode Ltd. will post 1.75 earnings per share for the current fiscal 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.