Voloridge Investment Management LLC Cuts Stake in InMode Ltd. (NASDAQ:INMD)

Voloridge Investment Management LLC lessened its stake in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 19.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 853,541 shares of the healthcare company's stock after selling 203,193 shares during the period. Voloridge Investment Management LLC owned 1.23% of InMode worth $14,254,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of InMode in the fourth quarter valued at $87,000. Farther Finance Advisors LLC increased its holdings in InMode by 26.2% in the 4th quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company's stock valued at $93,000 after buying an additional 1,154 shares during the period. Covestor Ltd raised its stake in shares of InMode by 13.9% in the 4th quarter. Covestor Ltd now owns 5,936 shares of the healthcare company's stock valued at $99,000 after buying an additional 723 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of InMode by 6,128.7% during the 4th quarter. Lazard Asset Management LLC now owns 6,291 shares of the healthcare company's stock worth $105,000 after acquiring an additional 6,190 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of InMode during the 4th quarter valued at about $114,000. Institutional investors own 68.04% of the company's stock.

InMode Stock Performance

Shares of InMode stock traded down $0.15 on Wednesday, hitting $14.39. The stock had a trading volume of 730,131 shares, compared to its average volume of 1,186,785. The firm has a market capitalization of $909.58 million, a P/E ratio of 6.12 and a beta of 2.02. InMode Ltd. has a twelve month low of $13.68 and a twelve month high of $19.85. The stock has a 50 day moving average of $15.44 and a 200 day moving average of $17.15.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reiterated a "hold" rating on shares of InMode in a research note on Monday, April 28th. UBS Group lowered 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. Canaccord Genuity Group cut their price objective on InMode from $17.00 to $15.00 and set a "hold" rating for the company in a report on Tuesday, April 29th. BTIG Research lowered shares of InMode from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. Finally, Robert W. Baird downgraded shares of InMode from an "outperform" rating to a "neutral" rating and cut their price target for the company from $22.00 to $16.00 in a report on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $18.54.

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.