InMode Ltd. $INMD Shares Sold by Trexquant Investment LP

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 lowered its position in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 76.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,769 shares of the healthcare company's stock after selling 129,717 shares during the quarter. Trexquant Investment LP owned about 0.06% of InMode worth $723,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC raised its stake in InMode by 106.4% during the first quarter. CWM LLC now owns 2,369 shares of the healthcare company's stock valued at $42,000 after buying an additional 1,221 shares in the last quarter. GAMMA Investing LLC raised its stake in InMode by 13,923.8% during the first quarter. GAMMA Investing LLC now owns 2,945 shares of the healthcare company's stock valued at $520,000 after buying an additional 2,924 shares in the last quarter. Orion Capital Management LLC acquired a new stake in InMode during the fourth quarter valued at approximately $65,000. Summit Securities Group LLC acquired a new stake in InMode during the first quarter valued at approximately $70,000. Finally, Lazard Asset Management LLC raised 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 valued at $105,000 after buying an additional 6,190 shares in the last quarter. Institutional investors and hedge funds own 68.04% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on INMD shares. Canaccord Genuity Group restated a "hold" rating and set a $15.00 price objective on shares of InMode in a research note on Friday, July 11th. Barclays cut their price objective on InMode from $24.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Finally, Needham & Company LLC restated a "hold" rating on shares of InMode in a research note 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $18.04.

InMode Trading Up 4.0%

NASDAQ:INMD opened at $14.98 on Monday. The firm has a market capitalization of $946.89 million, a PE ratio of 6.06 and a beta of 2.00. The stock has a 50 day moving average of $14.51 and a 200-day moving average of $15.36. 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 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). The company had revenue of $95.60 million for 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% compared to the same quarter last year. During the same period last year, the company posted $0.34 earnings per share. As a group, analysts predict that InMode Ltd. will post 1.75 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding INMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for InMode Ltd. (NASDAQ:INMD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.