Harvey Capital Management Inc. Sells 34,690 Shares of InMode Ltd. (NASDAQ:INMD)

Harvey Capital Management Inc. trimmed its position in InMode Ltd. (NASDAQ:INMD - Free Report) by 67.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 16,800 shares of the healthcare company's stock after selling 34,690 shares during the period. Harvey Capital Management Inc.'s holdings in InMode were worth $298,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Orion Capital Management LLC bought a new position in shares of InMode in the 4th quarter worth about $65,000. Farther Finance Advisors LLC raised its position in shares of InMode by 26.2% in the 4th quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company's stock worth $93,000 after acquiring an additional 1,154 shares in the last quarter. Covestor Ltd raised its position in shares of InMode by 13.9% in the 4th quarter. Covestor Ltd now owns 5,936 shares of the healthcare company's stock worth $99,000 after acquiring an additional 723 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of InMode by 6,128.7% in 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, Pilgrim Partners Asia Pte Ltd bought a new position in shares of InMode in the 4th quarter worth about $114,000. Institutional investors and hedge funds own 68.04% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on INMD shares. UBS Group dropped their price target on InMode from $19.00 to $16.25 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Needham & Company LLC reaffirmed a "hold" rating on shares of InMode in a research note on Monday, April 28th. Jefferies Financial Group dropped their price target on InMode from $16.00 to $15.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Baird R W downgraded InMode from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Finally, BTIG Research downgraded InMode from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $18.54.

InMode Trading Down 0.8%

Shares of INMD stock traded down $0.13 during trading on Wednesday, hitting $15.23. The company's stock had a trading volume of 952,050 shares, compared to its average volume of 1,223,176. The company has a market cap of $962.69 million, a PE ratio of 6.54 and a beta of 1.95. The business has a fifty day moving average of $14.36 and a 200-day moving average of $16.25. 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 announced its quarterly earnings data on Monday, April 28th. The healthcare company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.14). InMode had a net margin of 44.79% and a return on equity of 17.17%. The firm had revenue of $77.87 million for the quarter, compared to the consensus estimate of $82.21 million. During the same period last year, the company posted $0.32 earnings per share. InMode's revenue for the quarter was down 3.0% on a year-over-year basis. As a group, research analysts predict that InMode Ltd. will post 1.75 EPS for the current 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.