Quantedge Capital Pte Ltd Has $2.86 Million Position in InMode Ltd. (NASDAQ:INMD)

Quantedge Capital Pte Ltd boosted its holdings in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 644.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 about 0.25% of InMode worth $2,861,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. OMERS ADMINISTRATION Corp boosted its stake in InMode by 92.7% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 128,812 shares of the healthcare company's stock worth $2,151,000 after buying an additional 61,955 shares in the last quarter. Millennium Management LLC boosted its stake in InMode by 35.3% during the fourth quarter. Millennium Management LLC now owns 136,316 shares of the healthcare company's stock worth $2,276,000 after buying an additional 35,536 shares in the last quarter. Lazard Asset Management LLC boosted its stake in InMode by 6,128.7% during 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 in the last quarter. LMR Partners LLP acquired a new stake in InMode during the fourth quarter worth $289,000. Finally, LRT Capital Management LLC boosted its stake in InMode by 37.9% during the fourth quarter. LRT Capital Management LLC now owns 74,421 shares of the healthcare company's stock worth $1,243,000 after buying an additional 20,461 shares in the last quarter. Institutional investors and hedge funds own 68.04% of the company's stock.

Analyst Upgrades and Downgrades

INMD has been the topic of several recent analyst reports. Baird R W lowered InMode from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Barclays decreased their price target on InMode from $29.00 to $24.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. UBS Group decreased their price target on InMode from $19.00 to $16.25 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Canaccord Genuity Group decreased their price target on InMode from $17.00 to $15.00 and set a "hold" rating on the stock in a research note on Tuesday, April 29th. Finally, Robert W. Baird lowered InMode from an "outperform" rating to a "neutral" rating and decreased their price target for the company from $22.00 to $16.00 in a research note on Monday, April 28th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $18.54.

InMode Price Performance

Shares of INMD opened at $14.57 on Thursday. The company has a market capitalization of $1.01 billion, a P/E ratio of 6.20 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 business's 50 day simple moving average is $16.17 and its 200-day simple moving average is $17.38.

InMode (NASDAQ:INMD - Get Free Report) last announced its earnings results on Monday, April 28th. The healthcare company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.14). InMode had a return on equity of 18.25% and a net margin of 45.91%. The business had revenue of $77.87 million during the quarter, compared to analyst estimates of $82.21 million. During the same period in the previous year, the firm earned $0.32 earnings per share. The firm's revenue was down 3.0% compared to the same quarter last year. On average, sell-side analysts anticipate that InMode Ltd. will post 1.75 EPS for the current fiscal 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.

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