Voloridge Investment Management LLC Has $14.25 Million Position in InMode Ltd. (NASDAQ:INMD)

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

Other large investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of InMode in the 4th quarter valued at about $1,332,000. Barclays PLC grew its stake in InMode by 113.5% in the 3rd quarter. Barclays PLC now owns 169,630 shares of the healthcare company's stock valued at $2,876,000 after buying an additional 90,173 shares during the last quarter. Atlas Legacy Advisors LLC acquired a new position in shares of InMode during the 4th quarter worth approximately $848,000. Townsquare Capital LLC grew its position in shares of InMode by 43.2% during the 4th quarter. Townsquare Capital LLC now owns 17,029 shares of the healthcare company's stock worth $284,000 after purchasing an additional 5,137 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of InMode by 17.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 21,208 shares of the healthcare company's stock worth $354,000 after purchasing an additional 3,193 shares in the last quarter. Institutional investors and hedge funds own 68.04% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on INMD. Barclays cut their price target on shares of InMode from $29.00 to $24.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Robert W. Baird downgraded shares of InMode from an "outperform" rating to a "neutral" rating and cut their price target for the stock from $22.00 to $16.00 in a report on Monday, April 28th. Canaccord Genuity Group cut their price target on shares of InMode from $17.00 to $15.00 and set a "hold" rating for the company in a report on Tuesday, April 29th. UBS Group cut their price target on shares of InMode from $19.00 to $16.25 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Finally, Jefferies Financial Group cut their price target on shares of InMode from $16.00 to $15.00 and set a "hold" rating for the company in a report on Monday, April 14th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, InMode currently has a consensus rating of "Hold" and a consensus price target of $18.54.

InMode Stock Up 2.2%

Shares of INMD stock traded up $0.31 during trading hours on Tuesday, hitting $14.54. 1,301,710 shares of the company's stock traded hands, compared to its average volume of 1,188,611. The stock has a market cap of $919.06 million, a PE ratio of 6.19 and a beta of 2.02. InMode Ltd. has a 12 month low of $13.68 and a 12 month high of $19.85. The stock's 50 day simple moving average is $15.52 and its 200 day simple moving average is $17.17.

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