InMode Ltd. (NASDAQ:INMD) Stock Holdings Increased by Quantedge Capital Pte Ltd

Quantedge Capital Pte Ltd boosted its holdings in InMode Ltd. (NASDAQ:INMD - Free Report) by 644.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 171,300 shares of the healthcare company's stock after buying an additional 148,300 shares during the period. Quantedge Capital Pte Ltd owned approximately 0.25% of InMode worth $2,861,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of INMD. SBI Securities Co. Ltd. acquired a new position in shares of InMode in the fourth quarter worth about $87,000. Farther Finance Advisors LLC raised its position in shares of InMode by 26.2% in the 4th quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company's stock valued at $93,000 after purchasing an additional 1,154 shares in the last quarter. Covestor Ltd grew its position in shares of InMode by 13.9% during the fourth quarter. Covestor Ltd now owns 5,936 shares of the healthcare company's stock worth $99,000 after buying an additional 723 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of InMode by 6,128.7% in the fourth quarter. Lazard Asset Management LLC now owns 6,291 shares of the healthcare company's stock worth $105,000 after buying an additional 6,190 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of InMode during the fourth quarter worth about $114,000. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

InMode Stock Performance

Shares of INMD traded up $0.29 during mid-day trading on Tuesday, reaching $14.82. 388,221 shares of the company's stock traded hands, compared to its average volume of 1,184,673. InMode Ltd. has a 12 month low of $13.68 and a 12 month high of $19.85. The business's 50-day moving average price is $15.92 and its 200-day moving average price is $17.32. The stock has a market capitalization of $1.03 billion, a P/E ratio of 6.31 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.14). The business had revenue of $77.87 million during the quarter, compared to analyst estimates of $82.21 million. InMode had a return on equity of 18.25% and a net margin of 45.91%. The company's quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 EPS. Equities research analysts anticipate that InMode Ltd. will post 1.75 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on INMD shares. Robert W. Baird lowered InMode from an "outperform" rating to a "neutral" rating and lowered their price objective for the company from $22.00 to $16.00 in a report on Monday, April 28th. UBS Group dropped their price target on InMode from $19.00 to $16.25 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Canaccord Genuity Group decreased their price objective on shares of InMode from $17.00 to $15.00 and set a "hold" rating for the company in a report on Tuesday, April 29th. Barclays dropped their target price on shares of InMode from $29.00 to $24.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Finally, Jefferies Financial Group decreased their price target on shares of InMode from $16.00 to $15.00 and set a "hold" rating for the company in a report on Monday, April 14th. 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, the company currently has an average rating of "Hold" and an average price target of $18.54.

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.