Fred Alger Management LLC reduced its position in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 13.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 309,465 shares of the healthcare company's stock after selling 49,765 shares during the quarter. Fred Alger Management LLC owned 0.44% of InMode worth $5,168,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Harvey Capital Management Inc. boosted its holdings in shares of InMode by 1.4% during the 4th quarter. Harvey Capital Management Inc. now owns 51,490 shares of the healthcare company's stock valued at $860,000 after purchasing an additional 700 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of InMode by 6.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,586 shares of the healthcare company's stock worth $210,000 after buying an additional 721 shares in the last quarter. Covestor Ltd boosted its stake in InMode by 13.9% during the fourth quarter. Covestor Ltd now owns 5,936 shares of the healthcare company's stock valued at $99,000 after buying an additional 723 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in InMode by 26.2% during 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 in the last quarter. Finally, Invesco Ltd. increased its stake in InMode by 1.5% in the 4th quarter. Invesco Ltd. now owns 97,475 shares of the healthcare company's stock worth $1,628,000 after acquiring an additional 1,444 shares during the last quarter. Institutional investors own 68.04% of the company's stock.
InMode Stock Performance
InMode stock traded up $0.15 during mid-day trading on Thursday, hitting $14.72. The company's stock had a trading volume of 549,729 shares, compared to its average volume of 1,259,677. The company has a 50 day moving average of $16.17 and a 200-day moving average of $17.38. InMode Ltd. has a one year low of $13.68 and a one year high of $19.85. The stock has a market cap of $1.02 billion, a PE ratio of 6.27 and a beta of 2.02.
InMode (NASDAQ:INMD - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The healthcare company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.14). InMode had a return on equity of 18.25% and a net margin of 45.91%. The company had revenue of $77.87 million during the quarter, compared to the consensus estimate of $82.21 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company's revenue for the quarter was down 3.0% on a year-over-year basis. On average, equities research analysts forecast that InMode Ltd. will post 1.75 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. UBS Group cut their target price 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. Needham & Company LLC restated a "hold" rating on shares of InMode in a report on Monday, April 28th. Baird R W downgraded shares of InMode from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Barclays reduced their price objective on InMode from $29.00 to $24.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Finally, 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 note on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $18.54.
Check Out Our Latest Stock Analysis on InMode
About InMode
(
Free Report)
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.
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