InMode Ltd. (NASDAQ:INMD) is DDD Partners LLC's 8th Largest Position

DDD Partners LLC boosted its stake in InMode Ltd. (NASDAQ:INMD - Free Report) by 19.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,266,678 shares of the healthcare company's stock after purchasing an additional 205,947 shares during the period. InMode comprises approximately 2.7% of DDD Partners LLC's portfolio, making the stock its 8th largest position. DDD Partners LLC owned 1.51% of InMode worth $23,104,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trust Co. of Vermont lifted its position in shares of InMode by 32.8% during the fourth quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company's stock worth $48,000 after purchasing an additional 536 shares in the last quarter. CWM LLC increased its stake in InMode by 38.3% during the 4th quarter. CWM LLC now owns 2,454 shares of the healthcare company's stock worth $55,000 after buying an additional 680 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in InMode by 9.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the healthcare company's stock worth $165,000 after buying an additional 691 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its position in InMode by 69.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,200 shares of the healthcare company's stock valued at $49,000 after buying an additional 900 shares during the period. Finally, Hohimer Wealth Management LLC grew its stake in shares of InMode by 6.5% in the first quarter. Hohimer Wealth Management LLC now owns 14,923 shares of the healthcare company's stock worth $322,000 after acquiring an additional 906 shares in the last quarter. Hedge funds and other institutional investors own 68.04% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on INMD shares. Canaccord Genuity Group reduced their price objective on InMode from $21.00 to $16.00 and set a "hold" rating on the stock in a research note on Friday, July 12th. Needham & Company LLC reiterated a "hold" rating on shares of InMode in a research note on Thursday, July 11th. Barclays lowered their price objective on InMode from $33.00 to $29.00 and set an "overweight" rating for the company in a research report on Monday, July 15th. Finally, Jefferies Financial Group cut shares of InMode from a "buy" rating to a "hold" rating and reduced their target price for the company from $21.00 to $19.00 in a report on Tuesday, July 23rd. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $22.40.

InMode Price Performance

Shares of INMD traded up $0.71 during mid-day trading on Monday, reaching $16.71. The company's stock had a trading volume of 1,263,700 shares, compared to its average volume of 1,386,734. InMode Ltd. has a 12-month low of $15.41 and a 12-month high of $40.40. The stock has a market cap of $1.40 billion, a PE ratio of 7.92 and a beta of 2.18. The company's 50 day moving average is $17.08 and its 200 day moving average is $18.67.

InMode (NASDAQ:INMD - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The healthcare company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.04). The company had revenue of $102.60 million during the quarter, compared to analysts' expectations of $104.81 million. InMode had a net margin of 35.81% and a return on equity of 21.00%. The business's revenue for the quarter was down 24.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 earnings per share. As a group, sell-side analysts anticipate that InMode Ltd. will post 1.63 EPS for the current fiscal year.

About InMode

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.