Mackenzie Financial Corp Sells 35,510 Shares of InMode Ltd. (NASDAQ:INMD)

Mackenzie Financial Corp trimmed its position in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 30.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,502 shares of the healthcare company's stock after selling 35,510 shares during the quarter. Mackenzie Financial Corp owned 0.12% of InMode worth $1,361,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Global Advisors LLC raised its holdings in InMode by 3.0% during the 4th quarter. Strategic Global Advisors LLC now owns 20,744 shares of the healthcare company's stock worth $346,000 after buying an additional 604 shares during the period. Harvey Capital Management Inc. increased its position in shares of InMode by 1.4% during the fourth quarter. Harvey Capital Management Inc. now owns 51,490 shares of the healthcare company's stock worth $860,000 after acquiring an additional 700 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of InMode by 6.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 12,586 shares of the healthcare company's stock worth $210,000 after acquiring an additional 721 shares during the period. Covestor Ltd lifted its position in InMode by 13.9% in the 4th quarter. Covestor Ltd now owns 5,936 shares of the healthcare company's stock valued at $99,000 after acquiring an additional 723 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in 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 purchasing an additional 1,154 shares during the period. Institutional investors and hedge funds own 68.04% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on INMD. Jefferies Financial Group cut their price target on InMode from $16.00 to $15.00 and set a "hold" rating on the stock in a report on Monday, April 14th. 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. Robert W. Baird cut shares of InMode from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $22.00 to $16.00 in a research note on Monday, April 28th. Canaccord Genuity Group cut their price objective on shares of InMode from $17.00 to $15.00 and set a "hold" rating on the stock in a research report on Tuesday, April 29th. Finally, BTIG Research cut shares of InMode from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, InMode has an average rating of "Hold" and an average target price of $18.54.

InMode Stock Up 0.1%

Shares of INMD traded up $0.02 during trading hours on Wednesday, hitting $14.73. The company had a trading volume of 642,692 shares, compared to its average volume of 1,187,618. The business has a fifty day moving average of $14.99 and a 200-day moving average of $16.98. The firm has a market cap of $931.07 million, a price-to-earnings ratio of 6.27 and a beta of 2.02. InMode Ltd. has a 12 month low of $13.68 and a 12 month high of $19.85.

InMode (NASDAQ:INMD - Get Free Report) last released its quarterly earnings results 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 45.91% and a return on equity of 18.25%. The company had revenue of $77.87 million during the quarter, compared to the consensus estimate of $82.21 million. During the same period in the prior year, the company earned $0.32 earnings per share. The firm's revenue was down 3.0% compared to the same quarter last year. On average, equities analysts expect that InMode Ltd. will post 1.75 EPS for the current fiscal year.

InMode 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.