Roubaix Capital LLC Buys 44,891 Shares of InMode Ltd. $INMD

Key Points

• Roubaix Capital LLC increased its stake in InMode Ltd. by 33.5% in Q1, now holding approximately 179,000 shares worth about $3.175 million, representing 1.6% of its portfolio.
• InMode reported earnings per share (EPS) of $0.47 for the last quarter, missing the consensus estimate of $0.50, with revenues of $95.6 million, below expectations.
• Brokerages have recently downgraded InMode's stock ratings, with BTIG Research lowering it from "buy" to "neutral," impacting investor sentiment amid a current average price target of $18.04.

Roubaix Capital LLC grew its stake in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 33.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 178,978 shares of the healthcare company's stock after buying an additional 44,891 shares during the period. InMode accounts for approximately 1.6% of Roubaix Capital LLC's portfolio, making the stock its 29th largest holding. Roubaix Capital LLC owned approximately 0.26% of InMode worth $3,175,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of INMD. Wells Fargo & Company MN increased its position in shares of InMode by 8.4% during the fourth quarter. Wells Fargo & Company MN now owns 65,333 shares of the healthcare company's stock valued at $1,091,000 after buying an additional 5,068 shares during the period. Invesco Ltd. increased its position in shares of InMode by 1.5% during the fourth quarter. Invesco Ltd. now owns 97,475 shares of the healthcare company's stock valued at $1,628,000 after buying an additional 1,444 shares during the period. Raymond James Financial Inc. bought a new stake in shares of InMode during the fourth quarter valued at about $1,332,000. Sterling Capital Management LLC increased its position in shares of InMode by 23.5% during the fourth quarter. Sterling Capital Management LLC now owns 9,162 shares of the healthcare company's stock valued at $153,000 after buying an additional 1,742 shares during the period. Finally, Townsquare Capital LLC increased its position in shares of InMode by 43.2% during the fourth quarter. Townsquare Capital LLC now owns 17,029 shares of the healthcare company's stock valued at $284,000 after buying an additional 5,137 shares during the period. 68.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on INMD. UBS Group decreased their price target on InMode from $19.00 to $16.25 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Baird R W lowered InMode from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Robert W. Baird lowered InMode from an "outperform" rating to a "neutral" rating and cut their price objective for the stock from $22.00 to $16.00 in a report on Monday, April 28th. Needham & Company LLC reaffirmed a "hold" rating on shares of InMode in a research note on Wednesday, July 30th. Finally, Canaccord Genuity Group reaffirmed a "hold" rating and issued a $15.00 target price on shares of InMode in a research note on Friday, July 11th. One investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $18.04.

InMode Stock Up 4.3%

Shares of InMode stock traded up $0.6150 on Friday, hitting $14.8250. The stock had a trading volume of 615,971 shares, compared to its average volume of 1,268,794. InMode Ltd. has a one year low of $13.14 and a one year high of $19.85. The stock has a market cap of $937.09 million, a price-to-earnings ratio of 6.01 and a beta of 1.93. The stock's 50-day simple moving average is $14.26 and its two-hundred day simple moving average is $15.70.

InMode (NASDAQ:INMD - Get Free Report) last issued 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). InMode had a return on equity of 18.38% and a net margin of 44.50%.The firm had revenue of $95.60 million during the quarter, compared to the consensus estimate of $98.45 million. During the same quarter in the prior year, the business posted $0.34 EPS. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities analysts predict that InMode Ltd. will post 1.75 EPS for the current fiscal year.

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.