Martingale Asset Management L P Has $1.60 Million Position in InMode Ltd. $INMD

Key Points

• Martingale Asset Management L P increased its holdings in InMode Ltd. by 30.9% during the first quarter, acquiring an additional 21,214 shares for a total of 89,896 shares valued at approximately $1,595,000.
• A number of hedge funds, including Wells Fargo and Barclays, have also raised their positions in InMode, indicating increased institutional interest in the stock.
• InMode's recent quarterly earnings reported an EPS of $0.47, missing estimates, with revenue of $95.60 million, a 10.6% increase compared to the same quarter last year.

Martingale Asset Management L P boosted its position in InMode Ltd. (NASDAQ:INMD - Free Report) by 30.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,896 shares of the healthcare company's stock after buying an additional 21,214 shares during the quarter. Martingale Asset Management L P owned approximately 0.13% of InMode worth $1,595,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. LSV Asset Management boosted its holdings in 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 lifted 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 acquiring an additional 44,712 shares during the last quarter. DDD Partners LLC boosted its stake in InMode by 63.1% in the first quarter. DDD Partners LLC now owns 989,903 shares of the healthcare company's stock valued at $17,561,000 after acquiring an additional 382,938 shares during the period. North Growth Management Ltd. increased its position in 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 buying an additional 75,000 shares during the period. Finally, Northern Trust Corp grew its position in shares of InMode by 17.0% during the fourth quarter. Northern Trust Corp now owns 658,154 shares of the healthcare company's stock worth $10,991,000 after acquiring an additional 95,652 shares during the last quarter. 68.04% of the stock is owned by institutional investors and hedge funds.

InMode Price Performance

NASDAQ INMD traded down $0.26 on Thursday, hitting $14.94. 2,135,727 shares of the company were exchanged, compared to its average volume of 1,269,221. InMode Ltd. has a twelve month low of $13.14 and a twelve month high of $19.85. The company's 50 day moving average price is $14.38 and its 200-day moving average price is $15.61. The firm has a market capitalization of $944.04 million, a P/E ratio of 6.05 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 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 analysts' expectations of $98.45 million. InMode had a return on equity of 18.38% and a net margin of 44.50%.The business's revenue was up 10.6% on a year-over-year basis. During the same period last year, the business earned $0.34 earnings per share. As a group, equities analysts expect that InMode Ltd. will post 1.75 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on INMD. Needham & Company LLC reaffirmed a "hold" rating on shares of InMode in a report on Wednesday, July 30th. Canaccord Genuity Group restated a "hold" rating and set a $15.00 price objective on shares of InMode in a research note on Friday, July 11th. Finally, Barclays dropped their price target on shares of InMode from $24.00 to $21.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, InMode has an average rating of "Hold" and an average target price of $18.04.

About InMode

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.