Migdal Insurance & Financial Holdings Ltd. Grows Stock Holdings in InMode Ltd. (NASDAQ:INMD)

Migdal Insurance & Financial Holdings Ltd. raised its holdings in InMode Ltd. (NASDAQ:INMD - Free Report) by 21.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 899,166 shares of the healthcare company's stock after acquiring an additional 160,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned about 1.08% of InMode worth $19,997,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of INMD. BlackRock Inc. boosted its stake in shares of InMode by 223.8% in the 2nd quarter. BlackRock Inc. now owns 5,443,513 shares of the healthcare company's stock valued at $203,315,000 after purchasing an additional 3,762,511 shares in the last quarter. LSV Asset Management grew its stake in shares of InMode by 3,557.6% during the third quarter. LSV Asset Management now owns 1,678,819 shares of the healthcare company's stock worth $51,137,000 after buying an additional 1,632,919 shares during the last quarter. Boston Trust Walden Corp acquired a new position in shares of InMode during the fourth quarter worth $32,366,000. State Street Corp lifted its stake in shares of InMode by 199.1% in the 2nd quarter. State Street Corp now owns 1,736,843 shares of the healthcare company's stock valued at $64,871,000 after acquiring an additional 1,156,213 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of InMode by 78.2% during the 4th quarter. Millennium Management LLC now owns 1,916,711 shares of the healthcare company's stock valued at $68,427,000 after acquiring an additional 840,821 shares in the last quarter. Institutional investors and hedge funds own 68.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays lowered their target price on InMode from $34.00 to $33.00 and set an "overweight" rating for the company in a report on Friday, April 12th. UBS Group raised their price objective on shares of InMode from $24.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, February 14th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of InMode in a research report on Tuesday, April 9th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $32.80.

InMode Price Performance

Shares of InMode stock traded down $0.17 during midday trading on Wednesday, reaching $17.45. The company had a trading volume of 946,515 shares, compared to its average volume of 1,601,266. The stock has a fifty day moving average price of $21.47 and a 200 day moving average price of $22.13. InMode Ltd. has a fifty-two week low of $17.29 and a fifty-two week high of $48.25. The firm has a market cap of $1.47 billion, a PE ratio of 7.66 and a beta of 2.16.

InMode (NASDAQ:INMD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.05. InMode had a net margin of 40.22% and a return on equity of 29.80%. The firm had revenue of $126.80 million for the quarter, compared to the consensus estimate of $124.77 million. During the same quarter in the previous year, the company earned $0.69 EPS. The company's revenue for the quarter was down 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that InMode Ltd. will post 2.04 EPS for the current year.

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.