InMode Ltd. $INMD Stock Position Lifted by Systematic Financial Management LP

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 position in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 2.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,049,608 shares of the healthcare company's stock after buying an additional 22,785 shares during the period. Systematic Financial Management LP owned approximately 1.51% of InMode worth $18,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in INMD. CWM LLC boosted its position in shares of InMode by 106.4% during the 1st quarter. CWM LLC now owns 2,369 shares of the healthcare company's stock worth $42,000 after purchasing an additional 1,221 shares during the period. Orion Capital Management LLC acquired a new stake in InMode during the 4th quarter worth $65,000. Summit Securities Group LLC acquired a new position in InMode in the first quarter valued at $70,000. Lazard Asset Management LLC increased its stake in InMode by 6,128.7% in the fourth 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, Quarry LP increased its stake in shares of InMode by 100.0% during the fourth quarter. Quarry LP now owns 7,561 shares of the healthcare company's stock worth $126,000 after acquiring an additional 3,780 shares during the period. Hedge funds and other institutional investors own 68.04% of the company's stock.

Wall Street Analyst Weigh In

INMD has been the topic of a number of research analyst reports. Needham & Company LLC reissued a "hold" rating on shares of InMode in a report on Wednesday, July 30th. BTIG Research lowered shares of InMode from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 29th. Canaccord Genuity Group reissued a "hold" rating and issued a $15.00 price objective on shares of InMode in a research report on Friday, July 11th. UBS Group reduced their price objective on shares of InMode from $19.00 to $16.25 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Finally, Barclays reduced their price objective on shares of InMode from $24.00 to $21.00 and set an "overweight" rating on the stock in a research note 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.com, InMode currently has an average rating of "Hold" and a consensus price target of $18.04.

InMode Stock Performance

Shares of NASDAQ:INMD traded up $0.31 during trading on Wednesday, reaching $15.19. The company had a trading volume of 1,088,802 shares, compared to its average volume of 1,264,093. The firm's fifty day moving average is $14.34 and its 200 day moving average is $15.61. The firm has a market capitalization of $960.14 million, a PE ratio of 6.15 and a beta of 1.93. InMode Ltd. has a twelve month low of $13.14 and a twelve month high of $19.85.

InMode (NASDAQ:INMD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The healthcare company reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.03). InMode had a return on equity of 18.38% and a net margin of 44.50%.The company had revenue of $95.60 million during the quarter, compared to analyst estimates of $98.45 million. During the same period in the prior year, the company posted $0.34 earnings per share. The company's revenue was up 10.6% on a year-over-year basis. Equities analysts predict that InMode Ltd. will post 1.75 earnings per share 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.