Northern Trust Corp Raises Stock Holdings in InMode Ltd. (NASDAQ:INMD)

Northern Trust Corp increased its holdings in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 17.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 658,154 shares of the healthcare company's stock after purchasing an additional 95,652 shares during the quarter. Northern Trust Corp owned approximately 0.95% of InMode worth $10,991,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Quarry LP grew its position in shares of InMode by 100.0% during the fourth quarter. Quarry LP now owns 7,561 shares of the healthcare company's stock worth $126,000 after purchasing an additional 3,780 shares in the last quarter. Aquatic Capital Management LLC grew its position in shares of InMode by 7,388.0% during the fourth quarter. Aquatic Capital Management LLC now owns 27,556 shares of the healthcare company's stock worth $460,000 after purchasing an additional 27,188 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of InMode by 8.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 28,310 shares of the healthcare company's stock worth $473,000 after purchasing an additional 2,256 shares in the last quarter. Quantessence Capital LLC purchased a new stake in shares of InMode during the fourth quarter worth about $191,000. Finally, OneDigital Investment Advisors LLC purchased a new stake in shares of InMode during the fourth quarter worth about $247,000. Hedge funds and other institutional investors own 68.04% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on INMD shares. UBS Group cut their target price on InMode from $19.00 to $16.25 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Barclays dropped their price target on InMode from $29.00 to $24.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Baird R W lowered InMode from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Robert W. Baird lowered InMode from an "outperform" rating to a "neutral" rating and dropped their price target for the company from $22.00 to $16.00 in a research note on Monday, April 28th. Finally, BTIG Research lowered InMode from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 29th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $18.54.

InMode Price Performance

Shares of NASDAQ:INMD traded up $0.12 during trading on Thursday, hitting $14.33. The company had a trading volume of 873,190 shares, compared to its average volume of 1,188,468. The stock has a market cap of $996.78 million, a price-to-earnings ratio of 6.10 and a beta of 2.02. InMode Ltd. has a one year low of $13.68 and a one year high of $19.85. The company has a fifty day simple moving average of $15.69 and a two-hundred day simple moving average of $17.26.

InMode (NASDAQ:INMD - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The healthcare company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.14). The company had revenue of $77.87 million during the quarter, compared to the consensus estimate of $82.21 million. InMode had a net margin of 45.91% and a return on equity of 18.25%. InMode's revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 earnings per share. On average, equities research analysts anticipate 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.