Mackenzie Financial Corp Reduces Stock Holdings in InMode Ltd. (NASDAQ:INMD)

Mackenzie Financial Corp lowered its stake in InMode Ltd. (NASDAQ:INMD - Free Report) by 72.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,382 shares of the healthcare company's stock after selling 44,967 shares during the period. Mackenzie Financial Corp's holdings in InMode were worth $387,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Exchange Traded Concepts LLC bought a new stake in InMode in the third quarter valued at about $27,000. Handelsbanken Fonder AB increased its holdings in shares of InMode by 35.4% in the third quarter. Handelsbanken Fonder AB now owns 17,823 shares of the healthcare company's stock worth $543,000 after acquiring an additional 4,662 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of InMode by 32.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 35,018 shares of the healthcare company's stock worth $1,067,000 after acquiring an additional 8,667 shares in the last quarter. Dakota Wealth Management increased its holdings in shares of InMode by 87.2% in the third quarter. Dakota Wealth Management now owns 13,641 shares of the healthcare company's stock worth $416,000 after acquiring an additional 6,355 shares in the last quarter. Finally, Redwood Investments LLC increased its holdings in shares of InMode by 5.4% in the third quarter. Redwood Investments LLC now owns 260,663 shares of the healthcare company's stock worth $7,940,000 after acquiring an additional 13,392 shares in the last quarter. Institutional investors and hedge funds own 68.04% of the company's stock.

Analysts Set New Price Targets

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

InMode Stock Performance

NASDAQ INMD traded up $0.12 during trading hours on Friday, hitting $17.14. 970,055 shares of the company traded hands, compared to its average volume of 1,520,515. The business's 50-day moving average is $20.32 and its 200-day moving average is $21.49. InMode Ltd. has a twelve month low of $16.82 and a twelve month high of $48.25. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 7.45 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 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. InMode had a return on equity of 29.80% and a net margin of 40.22%. The firm had revenue of $126.80 million during the quarter, compared to analysts' expectations of $124.77 million. During the same period in the prior year, the firm posted $0.69 earnings per share. The business's quarterly revenue was down 5.1% compared to the same quarter last year. Analysts predict that InMode Ltd. will post 2.04 EPS 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.