InMode Ltd. (NASDAQ:INMD) Shares Sold by Harvey Capital Management Inc.

Harvey Capital Management Inc. decreased its stake in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 67.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,800 shares of the healthcare company's stock after selling 34,690 shares during the quarter. Harvey Capital Management Inc.'s holdings in InMode were worth $298,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in InMode during the 4th quarter valued at approximately $1,332,000. Handelsbanken Fonder AB raised its stake in shares of InMode by 34.3% in the first quarter. Handelsbanken Fonder AB now owns 36,400 shares of the healthcare company's stock worth $646,000 after purchasing an additional 9,300 shares during the last quarter. Bessemer Group Inc. purchased a new position in shares of InMode in the first quarter worth about $617,000. GAMMA Investing LLC raised its stake in shares of InMode by 13,923.8% in the first quarter. GAMMA Investing LLC now owns 2,945 shares of the healthcare company's stock worth $520,000 after purchasing an additional 2,924 shares during the last quarter. Finally, Townsquare Capital LLC raised its stake in shares of InMode by 43.2% in the fourth quarter. Townsquare Capital LLC now owns 17,029 shares of the healthcare company's stock worth $284,000 after purchasing an additional 5,137 shares during the last quarter. Institutional investors and hedge funds own 68.04% of the company's stock.

InMode Trading Down 0.3%

Shares of InMode stock traded down $0.05 during trading hours on Thursday, reaching $15.18. The stock had a trading volume of 1,755,874 shares, compared to its average volume of 1,224,262. InMode Ltd. has a twelve month low of $13.14 and a twelve month high of $19.85. The firm has a market capitalization of $959.53 million, a PE ratio of 6.52 and a beta of 1.95. The stock's 50 day moving average is $14.39 and its 200 day moving average is $16.23.

InMode (NASDAQ:INMD - Get Free Report) last announced its earnings results on Monday, April 28th. The healthcare company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.14). InMode had a net margin of 44.79% and a return on equity of 17.17%. The business had revenue of $77.87 million for the quarter, compared to analysts' expectations of $82.21 million. During the same quarter last year, the business earned $0.32 EPS. The company's quarterly revenue was down 3.0% on a year-over-year basis. As a group, sell-side analysts predict that InMode Ltd. will post 1.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on INMD shares. Baird R W lowered shares of InMode from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Robert W. Baird cut InMode from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $22.00 to $16.00 in a research report on Monday, April 28th. BTIG Research cut InMode from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 29th. Barclays reduced their price target on InMode from $29.00 to $24.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Finally, UBS Group reduced their price target on InMode from $19.00 to $16.25 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $18.54.

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.