Harel Insurance Investments & Financial Services Ltd. Has $19.38 Million Stock Holdings in InMode Ltd. (NASDAQ:INMD)

Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 42.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 871,312 shares of the healthcare company's stock after acquiring an additional 258,432 shares during the period. Harel Insurance Investments & Financial Services Ltd. owned about 1.05% of InMode worth $19,378,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INMD. Exchange Traded Concepts LLC acquired a new position in InMode during the third quarter worth about $27,000. Carmel Capital Partners LLC purchased a new stake in shares of InMode during the third quarter worth about $36,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of InMode during the third quarter worth about $40,000. Brown Brothers Harriman & Co. purchased a new stake in shares of InMode during the first quarter worth about $41,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of InMode by 97.1% during the third quarter. Tower Research Capital LLC TRC now owns 1,472 shares of the healthcare company's stock worth $45,000 after buying an additional 725 shares in the last quarter. Institutional investors and hedge funds own 68.04% of the company's stock.

InMode Stock Down 3.0 %

Shares of InMode stock traded down $0.55 during trading hours on Friday, hitting $17.92. The company's stock had a trading volume of 1,865,638 shares, compared to its average volume of 1,428,305. InMode Ltd. has a 1-year low of $17.74 and a 1-year high of $48.25. The business has a fifty day moving average of $21.73 and a 200 day moving average of $22.31. The company has a market capitalization of $1.50 billion, a PE ratio of 7.79 and a beta of 2.16.

InMode (NASDAQ:INMD - Get Free Report) last announced its earnings results on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. The business had revenue of $126.80 million during the quarter, compared to the consensus estimate of $124.77 million. InMode had a net margin of 40.22% and a return on equity of 29.80%. The business's quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. On average, sell-side analysts anticipate that InMode Ltd. will post 2.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on INMD. Needham & Company LLC reiterated a "hold" rating on shares of InMode in a report on Tuesday, April 9th. UBS Group lifted their price target on shares of InMode from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, February 14th. Finally, Barclays lowered their target price on shares of InMode from $34.00 to $33.00 and set an "overweight" rating for the company in a report on Friday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $32.80.

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.