Swedbank AB Sells 468,000 Shares of InMode Ltd. (NASDAQ:INMD)

Swedbank AB cut its holdings in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 57.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 348,000 shares of the healthcare company's stock after selling 468,000 shares during the period. Swedbank AB owned approximately 0.41% of InMode worth $5,899,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Asset Dedication LLC bought a new stake in InMode in the 2nd quarter worth approximately $33,000. Headlands Technologies LLC increased its position in InMode by 118.2% during the first quarter. Headlands Technologies LLC now owns 1,916 shares of the healthcare company's stock valued at $41,000 after acquiring an additional 1,038 shares during the last quarter. nVerses Capital LLC bought a new position in InMode in the second quarter valued at about $42,000. Tributary Capital Management LLC purchased a new position in InMode in the first quarter worth about $65,000. Finally, EMC Capital Management bought a new stake in shares of InMode during the 1st quarter valued at about $90,000. 68.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reiterated a "hold" rating on shares of InMode in a research note on Thursday, October 10th. BTIG Research initiated coverage on shares of InMode in a research report on Thursday. They issued a "buy" rating and a $25.00 price target on the stock. Barclays cut their price objective on shares of InMode from $29.00 to $27.00 and set an "overweight" rating for the company in a research report on Monday, October 14th. Jefferies Financial Group cut 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 report on Tuesday, July 23rd. Finally, Canaccord Genuity Group lowered their target price on InMode from $21.00 to $16.00 and set a "hold" rating on the stock in a research report on Friday, July 12th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $22.60.

InMode Trading Up 3.3 %

InMode stock traded up $0.57 during mid-day trading on Friday, hitting $17.78. The stock had a trading volume of 1,115,275 shares, compared to its average volume of 1,361,844. The firm's 50 day moving average is $16.28 and its 200 day moving average is $17.42. The firm has a market capitalization of $1.49 billion, a P/E ratio of 8.43 and a beta of 2.17. InMode Ltd. has a one year low of $14.87 and a one year high of $26.80.

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