Legal Advantage Investments Inc. Purchases 28,000 Shares of InMode Ltd. $INMD

Key Points

• Legal Advantage Investments Inc. increased its stake in InMode Ltd. by 99.9%, holding a total of 56,020 shares valued at approximately $994,000.
• Analysts have generally assigned a "Hold" rating for InMode, with a consensus price target of $18.04, and recent downgrades from firms like UBS Group and Baird R W.
• InMode's stock recently experienced a 2.5% decline and reported $0.47 earnings per share in its latest quarterly earnings, missing estimates and showing a 10.6% revenue growth year-over-year.

Legal Advantage Investments Inc. raised its holdings in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 99.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,020 shares of the healthcare company's stock after buying an additional 28,000 shares during the period. Legal Advantage Investments Inc. owned about 0.08% of InMode worth $994,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. LSV Asset Management boosted its position in shares of InMode by 17.2% in the first quarter. LSV Asset Management now owns 2,010,367 shares of the healthcare company's stock worth $35,664,000 after purchasing an additional 295,296 shares during the period. Systematic Financial Management LP boosted its position in shares of 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. DDD Partners LLC boosted its position in shares of 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. North Growth Management Ltd. boosted its position in shares of InMode by 12.8% in the first quarter. North Growth Management Ltd. now owns 659,000 shares of the healthcare company's stock worth $11,683,000 after purchasing an additional 75,000 shares during the period. Finally, Northern Trust Corp boosted its position in shares of InMode by 17.0% in the fourth quarter. Northern Trust Corp now owns 658,154 shares of the healthcare company's stock worth $10,991,000 after purchasing an additional 95,652 shares during the period. 68.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on INMD. Barclays dropped their price target on shares of InMode from $24.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Canaccord Genuity Group restated a "hold" rating and set a $15.00 target price on shares of InMode in a research report on Friday, July 11th. Baird R W lowered shares of InMode from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. BTIG Research lowered shares of InMode from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 29th. Finally, Robert W. Baird lowered shares of InMode from an "outperform" rating to a "neutral" rating and dropped their target price for the stock from $22.00 to $16.00 in a research report on Monday, April 28th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $18.04.

InMode Stock Performance

INMD stock traded down $0.13 during trading on Tuesday, hitting $14.18. 723,578 shares of the company's stock traded hands, compared to its average volume of 1,278,334. InMode Ltd. has a 52 week low of $13.14 and a 52 week high of $19.85. The business has a fifty day simple moving average of $14.27 and a 200 day simple moving average of $15.74. The stock has a market capitalization of $896.32 million, a price-to-earnings ratio of 5.74 and a beta of 1.93.

InMode (NASDAQ:INMD - Get Free Report) last released its earnings results on Wednesday, July 30th. The healthcare company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The firm had revenue of $95.60 million during the quarter, compared to the consensus estimate of $98.45 million. InMode had a return on equity of 18.38% and a net margin of 44.50%.InMode's revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. Research analysts forecast that InMode Ltd. will post 1.75 earnings per share 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.