Hotchkis & Wiley Capital Management LLC Reduces Stake in InMode Ltd. $INMD

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in InMode Ltd. by 10.4%, trimming its holdings to 715,220 shares worth approximately $12.7 million.
• InMode reported an earnings per share (EPS) of $0.47 for the last quarter, falling short of the consensus estimate of $0.50, alongside a revenue of $95.6 million.
• Research analysts have a mixed outlook on InMode, with one buy rating and seven hold ratings, reflecting an average target price of $18.04.

Hotchkis & Wiley Capital Management LLC trimmed its position in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 10.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 715,220 shares of the healthcare company's stock after selling 83,030 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 1.03% of InMode worth $12,688,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of INMD. Wells Fargo & Company MN raised its position in shares of InMode by 8.4% during the fourth quarter. Wells Fargo & Company MN now owns 65,333 shares of the healthcare company's stock worth $1,091,000 after purchasing an additional 5,068 shares during the period. Invesco Ltd. grew its holdings in InMode by 1.5% during the fourth quarter. Invesco Ltd. now owns 97,475 shares of the healthcare company's stock worth $1,628,000 after buying an additional 1,444 shares in the last quarter. Raymond James Financial Inc. bought a new stake in InMode during the fourth quarter worth $1,332,000. Barclays PLC grew its holdings in InMode by 10.9% during the fourth quarter. Barclays PLC now owns 188,146 shares of the healthcare company's stock worth $3,141,000 after buying an additional 18,516 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in InMode during the fourth quarter worth $934,000. 68.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on INMD. Needham & Company LLC reiterated a "hold" rating on shares of InMode in a report on Wednesday, July 30th. Barclays decreased their price target on InMode from $24.00 to $21.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Finally, 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. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $18.04.

InMode Trading Down 1.8%

Shares of INMD stock traded down $0.27 on Thursday, hitting $14.92. 2,405,990 shares of the stock were exchanged, compared to its average volume of 1,271,058. The firm has a market capitalization of $943.09 million, a PE ratio of 6.04 and a beta of 1.93. InMode Ltd. has a one year low of $13.14 and a one year high of $19.85. The firm's 50 day moving average is $14.38 and its two-hundred day moving average is $15.61.

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

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.