Systematic Financial Management LP Has $18.62 Million Holdings in InMode Ltd. $INMD

Key Points

• Systematic Financial Management LP increased its stake in InMode Ltd. by 2.2% in Q1, holding approximately 1.05 million shares valued at $18.62 million.
• InMode's earnings report revealed $0.47 EPS, missing the consensus estimate of $0.50, with quarterly revenue reaching $95.60 million, below expectations.
• The stock has a consensus rating of "Hold" from analysts, with an average target price of $18.04 amidst various recent downgrades and hold ratings.

Systematic Financial Management LP lifted its holdings in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 2.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,049,608 shares of the healthcare company's stock after acquiring an additional 22,785 shares during the quarter. Systematic Financial Management LP owned about 1.51% of InMode worth $18,620,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. DDD Partners LLC raised its stake in shares of InMode by 63.1% in the 1st quarter. DDD Partners LLC now owns 989,903 shares of the healthcare company's stock valued at $17,561,000 after purchasing an additional 382,938 shares in the last quarter. LSV Asset Management grew its position in shares of InMode by 17.2% during the 1st quarter. LSV Asset Management now owns 2,010,367 shares of the healthcare company's stock valued at $35,664,000 after buying an additional 295,296 shares during the last quarter. Nuveen LLC bought a new stake in shares of InMode during the 1st quarter valued at about $4,444,000. Meros Investment Management LP bought a new stake in shares of InMode during the 1st quarter valued at about $3,122,000. Finally, Quantedge Capital Pte Ltd grew its position in shares of InMode by 644.8% during the 4th quarter. Quantedge Capital Pte Ltd now owns 171,300 shares of the healthcare company's stock valued at $2,861,000 after buying an additional 148,300 shares during the last quarter. Institutional investors and hedge funds own 68.04% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on INMD shares. Canaccord Genuity Group reaffirmed a "hold" rating and set a $15.00 price objective on shares of InMode in a research report on Friday, July 11th. Barclays decreased their target price 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. Finally, Needham & Company LLC restated a "hold" rating on shares of InMode in a research report on Wednesday, July 30th. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $18.04.

InMode Stock Performance

INMD traded down $0.28 during midday trading on Thursday, hitting $14.92. The company had a trading volume of 1,780,171 shares, compared to its average volume of 1,266,587. The company has a market capitalization of $942.78 million, a PE ratio of 6.05 and a beta of 1.93. InMode Ltd. has a twelve month low of $13.14 and a twelve month high of $19.85. The firm's 50-day simple moving average is $14.38 and its 200-day simple moving average is $15.61.

InMode (NASDAQ:INMD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The healthcare company reported $0.47 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 business had revenue of $95.60 million for the quarter, compared to analyst estimates of $98.45 million. During the same quarter in the prior year, the firm earned $0.34 EPS. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that InMode Ltd. will post 1.75 EPS for the current fiscal year.

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.