Meitav Investment House Ltd. lowered its stake in InMode Ltd. (NASDAQ:INMD - Free Report) by 5.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,351,808 shares of the healthcare company's stock after selling 74,104 shares during the quarter. Meitav Investment House Ltd. owned approximately 1.61% of InMode worth $22,796,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in InMode by 11.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,068,396 shares of the healthcare company's stock valued at $37,728,000 after purchasing an additional 214,200 shares during the last quarter. Doma Perpetual Capital Management LLC grew its holdings in InMode by 210.7% in the 2nd quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company's stock valued at $36,685,000 after buying an additional 1,363,841 shares during the period. DDD Partners LLC grew its holdings in InMode by 19.4% in the 2nd quarter. DDD Partners LLC now owns 1,266,678 shares of the healthcare company's stock valued at $23,104,000 after buying an additional 205,947 shares during the period. Federated Hermes Inc. grew its holdings in InMode by 191.9% in the 2nd quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company's stock valued at $20,520,000 after buying an additional 739,629 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in InMode by 63.6% in the 2nd quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company's stock valued at $20,502,000 after buying an additional 437,122 shares during the period. Hedge funds and other institutional investors own 68.04% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have commented on INMD shares. BTIG Research initiated coverage on InMode in a report on Thursday, October 17th. They issued a "buy" rating and a $25.00 price target for the company. Needham & Company LLC reiterated a "hold" rating on shares of InMode in a report on Thursday. Barclays decreased their price target on InMode from $29.00 to $27.00 and set an "overweight" rating for the company in a report on Monday, October 14th. Jefferies Financial Group lowered InMode from a "buy" rating to a "hold" rating and cut their target price for the company from $21.00 to $19.00 in a research report on Tuesday, July 23rd. Finally, Canaccord Genuity Group dropped their price target 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $22.60.
View Our Latest Analysis on InMode
InMode Stock Down 4.4 %
NASDAQ INMD traded down $0.79 during trading hours on Thursday, hitting $17.08. The company had a trading volume of 1,136,837 shares, compared to its average volume of 1,347,031. InMode Ltd. has a fifty-two week low of $14.87 and a fifty-two week high of $26.80. The business has a fifty day simple moving average of $16.60 and a 200-day simple moving average of $17.35. The firm has a market cap of $1.43 billion, a P/E ratio of 8.47 and a beta of 2.17.
InMode (NASDAQ:INMD - Get Free Report) last released its quarterly 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). InMode had a return on equity of 21.00% and a net margin of 35.81%. The business had revenue of $102.60 million during the quarter, compared to the consensus estimate of $104.81 million. During the same period in the previous year, the company posted $0.65 EPS. The company's revenue for the quarter was down 24.6% compared to the same quarter last year. Equities analysts forecast that InMode Ltd. will post 1.58 EPS for the current fiscal year.
InMode Company Profile
(
Free Report)
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.
Further Reading
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