Allianz Asset Management GmbH lowered its position in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 28.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,250 shares of the healthcare company's stock after selling 19,231 shares during the period. Allianz Asset Management GmbH owned approximately 0.07% of InMode worth $856,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in INMD. Renaissance Technologies LLC increased its stake in shares of InMode by 2.3% in the fourth quarter. Renaissance Technologies LLC now owns 2,266,618 shares of the healthcare company's stock worth $37,853,000 after buying an additional 50,200 shares during the last quarter. LSV Asset Management boosted its holdings in InMode by 0.4% in the fourth quarter. LSV Asset Management now owns 1,715,071 shares of the healthcare company's stock worth $28,642,000 after purchasing an additional 6,300 shares during the period. JPMorgan Chase & Co. boosted its holdings in InMode by 4.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,084,241 shares of the healthcare company's stock worth $18,107,000 after purchasing an additional 45,638 shares during the period. Systematic Financial Management LP boosted its holdings in InMode by 4.6% in the fourth quarter. Systematic Financial Management LP now owns 1,026,823 shares of the healthcare company's stock worth $17,148,000 after purchasing an additional 44,712 shares during the period. Finally, DDD Partners LLC boosted its holdings in InMode by 63.1% in the first quarter. DDD Partners LLC now owns 989,903 shares of the healthcare company's stock worth $17,561,000 after purchasing an additional 382,938 shares during the period. Hedge funds and other institutional investors own 68.04% of the company's stock.
Wall Street Analysts Forecast Growth
INMD has been the subject of a number of analyst reports. Baird R W lowered InMode from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Robert W. Baird downgraded shares of 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 report on Monday, April 28th. Canaccord Genuity Group reissued a "hold" rating and set a $15.00 price target on shares of InMode in a report on Friday, July 11th. Needham & Company LLC reissued a "hold" rating on shares of InMode in a report on Wednesday. Finally, UBS Group reduced their price objective on shares of InMode from $19.00 to $16.25 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $18.04.
Check Out Our Latest Report on InMode
InMode Trading Up 0.6%
NASDAQ:INMD traded up $0.08 on Friday, hitting $13.74. 1,726,589 shares of the company's stock traded hands, compared to its average volume of 1,019,427. InMode Ltd. has a 1 year low of $13.14 and a 1 year high of $19.85. The firm has a 50-day moving average price of $14.33 and a 200-day moving average price of $15.97. The company has a market cap of $868.49 million, a PE ratio of 5.56 and a beta of 1.95.
InMode (NASDAQ:INMD - Get Free Report) last released its earnings results on Wednesday, July 30th. The healthcare company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). InMode had a net margin of 44.50% and a return on equity of 18.38%. The business had revenue of $95.60 million for the quarter, compared to analysts' expectations of $98.45 million. During the same period last year, the firm earned $0.34 EPS. The company's revenue was up 10.6% compared to the same quarter last year. On average, research analysts forecast that InMode Ltd. will post 1.75 EPS for the current fiscal year.
About InMode
(
Free Report)
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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