InMode Ltd. (NASDAQ:INMD) Shares Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp boosted its holdings in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 92.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 128,812 shares of the healthcare company's stock after purchasing an additional 61,955 shares during the period. OMERS ADMINISTRATION Corp owned about 0.19% of InMode worth $2,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Barclays PLC lifted its holdings in InMode by 113.5% in the third quarter. Barclays PLC now owns 169,630 shares of the healthcare company's stock valued at $2,876,000 after acquiring an additional 90,173 shares during the period. DGS Capital Management LLC boosted its holdings in InMode by 129.7% during the fourth quarter. DGS Capital Management LLC now owns 24,704 shares of the healthcare company's stock worth $413,000 after buying an additional 13,948 shares in the last quarter. Meritage Portfolio Management grew its position in InMode by 12.3% during the fourth quarter. Meritage Portfolio Management now owns 16,575 shares of the healthcare company's stock valued at $277,000 after buying an additional 1,810 shares during the period. Harvey Capital Management Inc. increased its holdings in InMode by 1.4% in the fourth quarter. Harvey Capital Management Inc. now owns 51,490 shares of the healthcare company's stock valued at $860,000 after buying an additional 700 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of InMode by 14.6% during the 4th quarter. Principal Financial Group Inc. now owns 99,562 shares of the healthcare company's stock worth $1,663,000 after acquiring an additional 12,661 shares in the last quarter. 68.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INMD has been the subject of several recent analyst reports. Robert W. Baird lowered 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 research note on Monday, April 28th. Needham & Company LLC reaffirmed a "hold" rating on shares of InMode in a research note on Monday, April 28th. BTIG Research cut shares of InMode from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 29th. Baird R W lowered shares of InMode from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Finally, UBS Group decreased their price objective on shares of InMode from $19.00 to $16.25 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, InMode currently has an average rating of "Hold" and a consensus target price of $18.54.

InMode Stock Performance

Shares of NASDAQ:INMD traded down $0.04 during trading on Friday, reaching $14.67. The stock had a trading volume of 1,037,669 shares, compared to its average volume of 1,189,625. InMode Ltd. has a 1-year low of $13.68 and a 1-year high of $19.85. The stock has a market cap of $1.02 billion, a PE ratio of 6.24 and a beta of 2.02. The business has a fifty day moving average price of $16.00 and a 200-day moving average price of $17.33.

InMode (NASDAQ:INMD - Get Free Report) last announced its earnings results 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). InMode had a return on equity of 18.25% and a net margin of 45.91%. The business had revenue of $77.87 million for the quarter, compared to analyst estimates of $82.21 million. During the same period last year, the firm earned $0.32 EPS. The company's revenue for the quarter was down 3.0% compared to the same quarter last year. Sell-side analysts expect that InMode Ltd. will post 1.75 earnings per share for the current year.

InMode 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.