Northern Trust Corp Increases Stock Position in InMode Ltd. (NASDAQ:INMD)

Northern Trust Corp grew its holdings in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 17.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 658,154 shares of the healthcare company's stock after acquiring an additional 95,652 shares during the quarter. Northern Trust Corp owned about 0.95% of InMode worth $10,991,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in InMode during the fourth quarter valued at approximately $1,332,000. Barclays PLC raised its position in shares of InMode by 113.5% during the 3rd quarter. Barclays PLC now owns 169,630 shares of the healthcare company's stock valued at $2,876,000 after buying an additional 90,173 shares in the last quarter. Atlas Legacy Advisors LLC bought a new stake in shares of InMode during the 4th quarter worth $848,000. Townsquare Capital LLC lifted its holdings in shares of InMode by 43.2% during the 4th quarter. Townsquare Capital LLC now owns 17,029 shares of the healthcare company's stock worth $284,000 after acquiring an additional 5,137 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in InMode by 17.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 21,208 shares of the healthcare company's stock worth $354,000 after acquiring an additional 3,193 shares in the last quarter. Hedge funds and other institutional investors own 68.04% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on INMD shares. BTIG Research lowered InMode from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 29th. UBS Group decreased their price objective on InMode from $19.00 to $16.25 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Canaccord Genuity Group cut their target price on InMode from $17.00 to $15.00 and set a "hold" rating for the company in a research note on Tuesday, April 29th. Baird R W cut shares of InMode from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Finally, Jefferies Financial Group decreased their price target on shares of InMode from $16.00 to $15.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $18.54.

InMode Price Performance

InMode stock traded up $0.23 during trading hours on Tuesday, reaching $14.76. The company had a trading volume of 963,227 shares, compared to its average volume of 1,186,833. InMode Ltd. has a 12-month low of $13.68 and a 12-month high of $19.85. The company has a 50-day moving average price of $15.92 and a 200 day moving average price of $17.32. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 6.28 and a beta of 2.02.

InMode (NASDAQ:INMD - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The healthcare company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.14). InMode had a net margin of 45.91% and a return on equity of 18.25%. The firm had revenue of $77.87 million for the quarter, compared to the consensus estimate of $82.21 million. During the same quarter in the prior year, the company earned $0.32 earnings per share. The company's quarterly revenue was down 3.0% compared to the same quarter last year. As a group, research analysts expect that InMode Ltd. will post 1.75 earnings per share 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.