Millennium Management LLC Acquires 35,536 Shares of InMode Ltd. (NASDAQ:INMD)

Millennium Management LLC grew its stake in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 35.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 136,316 shares of the healthcare company's stock after purchasing an additional 35,536 shares during the period. Millennium Management LLC owned approximately 0.20% of InMode worth $2,276,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of INMD. SBI Securities Co. Ltd. purchased a new stake in InMode in the fourth quarter worth about $87,000. Farther Finance Advisors LLC grew its holdings in shares of InMode by 26.2% during 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 during the period. 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 lifted its stake 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 valued at $105,000 after purchasing an additional 6,190 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of InMode in the 4th quarter valued at approximately $114,000. Institutional investors own 68.04% of the company's stock.

InMode Stock Performance

Shares of INMD traded up $0.36 during trading hours on Tuesday, hitting $14.71. The company had a trading volume of 838,829 shares, compared to its average volume of 1,186,744. The firm has a fifty day moving average price of $15.12 and a 200-day moving average price of $17.01. The stock has a market capitalization of $929.80 million, a price-to-earnings ratio of 6.26 and a beta of 2.02. InMode Ltd. has a 52-week low of $13.68 and a 52-week high of $19.85.

InMode (NASDAQ:INMD - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The healthcare company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.14). The firm had revenue of $77.87 million for the quarter, compared to the consensus estimate of $82.21 million. InMode had a net margin of 45.91% and a return on equity of 18.25%. The firm's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 earnings per share. Research analysts anticipate that InMode Ltd. will post 1.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. BTIG Research downgraded InMode from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. Needham & Company LLC reaffirmed a "hold" rating on shares of InMode in a research report on Monday, April 28th. UBS Group decreased their price target on shares of InMode from $19.00 to $16.25 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Jefferies Financial Group dropped their price objective on shares of InMode from $16.00 to $15.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Finally, Barclays cut their price objective on shares of InMode from $29.00 to $24.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $18.54.

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.