M&G Investment Management Ltd. Invests $8.04 Million in InMode Ltd. (NASDAQ:INMD)

M&G Investment Management Ltd. purchased a new stake in shares of InMode Ltd. (NASDAQ:INMD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 365,503 shares of the healthcare company's stock, valued at approximately $8,041,000. M&G Investment Management Ltd. owned 0.44% of InMode at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Duality Advisers LP bought a new stake in shares of InMode in the fourth quarter valued at about $1,773,000. Ibex Investors LLC bought a new stake in shares of InMode in the third quarter valued at about $1,954,000. UBS Group AG lifted its stake in shares of InMode by 3.9% in the third quarter. UBS Group AG now owns 753,026 shares of the healthcare company's stock valued at $22,937,000 after buying an additional 28,446 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of InMode by 45.0% in the third quarter. Envestnet Asset Management Inc. now owns 164,928 shares of the healthcare company's stock valued at $5,024,000 after buying an additional 51,181 shares during the period. Finally, Jump Financial LLC bought a new stake in shares of InMode in the third quarter valued at about $1,881,000. 68.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barclays dropped 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. Needham & Company LLC reaffirmed a "hold" rating on shares of InMode in a report on Friday, May 3rd. Finally, UBS Group raised their price objective on shares of InMode from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $32.80.

InMode Trading Up 1.5 %

Shares of INMD traded up $0.27 during mid-day trading on Wednesday, hitting $18.85. 1,186,787 shares of the company traded hands, compared to its average volume of 1,530,840. InMode Ltd. has a one year low of $16.72 and a one year high of $48.25. The business has a 50-day moving average of $19.37 and a 200 day moving average of $21.29. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 8.93 and a beta of 2.20.

InMode (NASDAQ:INMD - Get Free Report) last released 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 net margin of 38.84% and a return on equity of 26.15%. The business had revenue of $126.80 million for the quarter, compared to analysts' expectations of $124.77 million. During the same period in the prior year, the firm earned $0.69 earnings per share. InMode's revenue was down 5.1% compared to the same quarter last year. As a group, analysts anticipate that InMode Ltd. will post 1.8 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.