Mutual of America Capital Management LLC Makes New $1.73 Million Investment in InMode Ltd. (NASDAQ:INMD)

Mutual of America Capital Management LLC bought a new stake in InMode Ltd. (NASDAQ:INMD - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 77,689 shares of the healthcare company's stock, valued at approximately $1,728,000. Mutual of America Capital Management LLC owned approximately 0.09% of InMode as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in INMD. LSV Asset Management increased its stake in InMode by 3,557.6% during the third quarter. LSV Asset Management now owns 1,678,819 shares of the healthcare company's stock valued at $51,137,000 after purchasing an additional 1,632,919 shares during the last quarter. Meitav Investment House Ltd. raised its stake in InMode by 58.2% during the third quarter. Meitav Investment House Ltd. now owns 1,589,027 shares of the healthcare company's stock worth $49,448,000 after acquiring an additional 584,655 shares during the period. Boston Trust Walden Corp bought a new position in InMode in the fourth quarter worth about $32,366,000. DDD Partners LLC boosted its stake in InMode by 24.4% in the fourth quarter. DDD Partners LLC now owns 1,228,162 shares of the healthcare company's stock valued at $27,314,000 after acquiring an additional 240,856 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of InMode by 44.0% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,080,000 shares of the healthcare company's stock valued at $32,897,000 after purchasing an additional 330,000 shares during the last quarter. 68.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

InMode Price Performance

Shares of InMode stock traded down $0.27 on Monday, hitting $17.14. The company had a trading volume of 1,218,039 shares, compared to its average volume of 1,598,748. InMode Ltd. has a 52 week low of $16.96 and a 52 week high of $48.25. The company has a market cap of $1.44 billion, a PE ratio of 7.45 and a beta of 2.16. The business has a 50-day simple moving average of $20.80 and a 200-day simple moving average of $21.80.

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, beating the consensus estimate of $0.66 by $0.05. The company had revenue of $126.80 million for the quarter, compared to analysts' expectations of $124.77 million. InMode had a return on equity of 29.80% and a net margin of 40.22%. The firm's revenue for the quarter was down 5.1% on a year-over-year basis. During the same period last year, the firm earned $0.69 EPS. On average, equities research analysts predict that InMode Ltd. will post 2.04 earnings per share for the current fiscal 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.