Trexquant Investment LP Decreases Stake in InMode Ltd. $INMD

Key Points

• Trexquant Investment LP significantly reduced its stake in InMode Ltd. by 76.1% during the first quarter, owning only 40,769 shares after selling 129,717 shares.
• Despite some institutional sell-offs, CWM LLC and GAMMA Investing LLC increased their positions in InMode, with CWM raising its stake by 106.4% and GAMMA by an astonishing 13,923.8%.
• InMode's earnings report showed a $0.47 EPS, missing estimates, while the company had a 10.6% year-over-year revenue growth, totaling $95.60 million.

Trexquant Investment LP cut its stake in InMode Ltd. (NASDAQ:INMD - Free Report) by 76.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,769 shares of the healthcare company's stock after selling 129,717 shares during the period. Trexquant Investment LP owned about 0.06% of InMode worth $723,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. CWM LLC grew its holdings in shares of InMode by 106.4% in the first quarter. CWM LLC now owns 2,369 shares of the healthcare company's stock worth $42,000 after purchasing an additional 1,221 shares during the last quarter. Orion Capital Management LLC bought a new position in InMode during the 4th quarter worth about $65,000. Summit Securities Group LLC bought a new position in InMode during the 1st quarter worth about $70,000. Lazard Asset Management LLC grew its holdings in InMode by 6,128.7% during the 4th quarter. Lazard Asset Management LLC now owns 6,291 shares of the healthcare company's stock worth $105,000 after acquiring an additional 6,190 shares in the last quarter. Finally, Exencial Wealth Advisors LLC bought a new position in InMode during the 1st quarter worth about $182,000. 68.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on INMD. Needham & Company LLC reiterated a "hold" rating on shares of InMode in a report on Wednesday, July 30th. Canaccord Genuity Group reiterated a "hold" rating and set a $15.00 target price on shares of InMode in a report on Friday, July 11th. Finally, Barclays dropped their target price 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. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $18.04.

InMode Price Performance

Shares of INMD stock traded down $0.51 during mid-day trading on Friday, hitting $14.83. 727,280 shares of the stock traded hands, compared to its average volume of 941,794. The stock has a market cap of $937.40 million, a P/E ratio of 6.00 and a beta of 2.00. The stock's fifty day moving average is $14.53 and its two-hundred day moving average is $15.28. 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 released its quarterly 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 for the quarter, compared to analysts' expectations of $98.45 million. InMode had a net margin of 44.50% and a return on equity of 18.38%. The business's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 earnings per share. As a group, equities analysts forecast that InMode Ltd. will post 1.75 EPS 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.