Twinbeech Capital LP Invests $329,000 in InMode Ltd. (NASDAQ:INMD)

Twinbeech Capital LP purchased a new stake in InMode Ltd. (NASDAQ:INMD - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 19,677 shares of the healthcare company's stock, valued at approximately $329,000.

Several other hedge funds have also recently modified their holdings of INMD. SBI Securities Co. Ltd. purchased a new stake in InMode during the fourth quarter worth $87,000. Farther Finance Advisors LLC boosted its position in InMode by 26.2% during the fourth quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company's stock valued at $93,000 after purchasing an additional 1,154 shares in the last quarter. Covestor Ltd grew its stake in InMode by 13.9% in the fourth quarter. Covestor Ltd now owns 5,936 shares of the healthcare company's stock valued at $99,000 after purchasing an additional 723 shares during the last quarter. Lazard Asset Management LLC grew 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 last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in InMode in the fourth quarter worth about $114,000. Hedge funds and other institutional investors own 68.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on INMD shares. BTIG Research cut shares of 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. Jefferies Financial Group lowered their price objective on InMode from $16.00 to $15.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Baird R W lowered InMode from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Finally, Robert W. Baird downgraded InMode from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $22.00 to $16.00 in a report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $18.54.

InMode Price Performance

INMD traded up $0.28 on Tuesday, reaching $14.51. 723,690 shares of the stock were exchanged, compared to its average volume of 1,186,426. The company's 50-day moving average price is $15.52 and its 200 day moving average price is $17.17. The firm has a market capitalization of $917.16 million, a PE ratio of 6.19 and a beta of 2.02. InMode Ltd. has a fifty-two week low of $13.68 and a fifty-two week high of $19.85.

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