Quantbot Technologies LP Makes New $1.46 Million Investment in InMode Ltd. $INMD

Key Points

• Quantbot Technologies LP acquired a new stake in InMode Ltd., purchasing 82,354 shares valued at approximately $1.46 million during the first quarter.
• Analyst ratings for InMode have been mixed, with Robert W. Baird downgrading the stock's rating from "outperform" to "neutral" and adjusting the target price from $22 to $16.
• InMode reported quarterly earnings of $0.47 per share, missing analysts' expectations by $0.03, while revenue was $95.6 million, up 10.6% from the previous year but below expectations.

Quantbot Technologies LP bought a new stake in InMode Ltd. (NASDAQ:INMD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 82,354 shares of the healthcare company's stock, valued at approximately $1,461,000. Quantbot Technologies LP owned 0.12% of InMode at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. DDD Partners LLC boosted its stake in InMode by 63.1% during the 1st 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 last quarter. LSV Asset Management raised its holdings in shares of InMode by 17.2% during 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. Nuveen LLC acquired a new stake in shares of InMode during the first quarter worth $4,444,000. Meros Investment Management LP acquired a new stake in shares of InMode during the first quarter worth $3,122,000. Finally, Quantedge Capital Pte Ltd increased its holdings in shares of InMode by 644.8% in the 4th quarter. Quantedge Capital Pte Ltd now owns 171,300 shares of the healthcare company's stock worth $2,861,000 after acquiring an additional 148,300 shares during the period. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

InMode Trading Down 1.8%

INMD traded down $0.28 on Thursday, reaching $14.92. The company had a trading volume of 1,292,377 shares, compared to its average volume of 1,260,248. The company has a fifty day moving average of $14.38 and a 200-day moving average of $15.61. The company has a market capitalization of $942.78 million, a P/E ratio of 6.01 and a beta of 1.93. InMode Ltd. has a one year low of $13.14 and a one year high of $19.85.

InMode (NASDAQ:INMD - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $98.45 million. During the same quarter last year, the business posted $0.34 EPS. The business's revenue for the quarter was up 10.6% on a year-over-year basis. Research analysts predict that InMode Ltd. will post 1.75 EPS for the current 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.