InMode Ltd. $INMD Position Trimmed by Boston Trust Walden Corp

Key Points

• Boston Trust Walden Corp reduced its position in InMode Ltd. by 3.4% in Q2, holding approximately 2.09% of the company's stock after selling 46,438 shares.
• Analyst ratings for InMode show a consensus of “Hold” with a price target range, while Barclays recently lowered its target from $24.00 to $21.00.
• InMode reported a 10.6% year-over-year revenue increase, though the company missed EPS estimates with a reported $0.47, below the consensus of $0.50 for the quarter.

Boston Trust Walden Corp decreased its position in InMode Ltd. (NASDAQ:INMD - Free Report) by 3.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,318,853 shares of the healthcare company's stock after selling 46,438 shares during the period. Boston Trust Walden Corp owned about 2.09% of InMode worth $19,044,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its stake in shares of InMode by 63.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,973 shares of the healthcare company's stock valued at $28,000 after buying an additional 763 shares during the period. 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 purchasing an additional 1,221 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of InMode by 13,923.8% during the 1st quarter. GAMMA Investing LLC now owns 2,945 shares of the healthcare company's stock valued at $520,000 after purchasing an additional 2,924 shares in the last quarter. Summit Securities Group LLC bought a new position in InMode in the 1st quarter worth $70,000. Finally, Farther Finance Advisors LLC raised its holdings in InMode by 302.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 8,110 shares of the healthcare company's stock worth $117,000 after acquiring an additional 6,094 shares during the period. Institutional investors and hedge funds own 68.04% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on INMD. Barclays decreased their price target on shares of InMode from $24.00 to $21.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Weiss Ratings reiterated a "sell (d+)" rating on shares of InMode in a research report on Wednesday, October 8th. Needham & Company LLC restated a "hold" rating on shares of InMode in a research report on Friday, October 10th. Zacks Research raised shares of InMode from a "strong sell" rating to a "hold" rating in a research note on Monday, September 29th. Finally, Canaccord Genuity Group boosted their target price on shares of InMode from $14.00 to $16.00 and gave the stock a "hold" rating in a research note on Friday, October 10th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $18.21.

InMode Stock Performance

Shares of NASDAQ:INMD opened at $15.44 on Wednesday. InMode Ltd. has a 52 week low of $13.14 and a 52 week high of $19.85. The company has a market capitalization of $975.95 million, a PE ratio of 6.25 and a beta of 2.09. The company has a 50 day moving average price of $14.82 and a two-hundred day moving average price of $14.71.

InMode (NASDAQ:INMD - Get Free Report) last issued 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). The firm had revenue of $95.60 million during the quarter, compared to the consensus estimate of $98.45 million. InMode had a net margin of 44.50% and a return on equity of 18.38%. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS. On average, sell-side analysts forecast 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.

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