Bank of New York Mellon Corp Has $5.09 Million Position in InMode Ltd. (NASDAQ:INMD)

Bank of New York Mellon Corp grew its holdings in InMode Ltd. (NASDAQ:INMD - Free Report) by 12.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 279,082 shares of the healthcare company's stock after buying an additional 31,549 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.33% of InMode worth $5,090,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INMD. Principal Securities Inc. acquired a new stake in InMode in the fourth quarter worth about $32,000. Headlands Technologies LLC increased its position in InMode by 118.2% in the first quarter. Headlands Technologies LLC now owns 1,916 shares of the healthcare company's stock worth $41,000 after purchasing an additional 1,038 shares during the period. Trust Co. of Vermont increased its position in InMode by 32.8% in 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 during the period. Newbridge Financial Services Group Inc. increased its position in InMode by 69.2% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,200 shares of the healthcare company's stock worth $49,000 after purchasing an additional 900 shares during the period. Finally, Tributary Capital Management LLC acquired a new position in shares of InMode during the 1st quarter worth about $65,000. 68.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

InMode Trading Up 1.7 %

Shares of InMode stock traded up $0.29 on Friday, reaching $17.04. 863,207 shares of the company were exchanged, compared to its average volume of 1,375,183. InMode Ltd. has a one year low of $15.39 and a one year high of $35.58. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 8.08 and a beta of 2.17. The company has a 50-day moving average of $16.78 and a 200 day moving average of $18.30.

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