National Asset Management Inc. cut its position in InMode Ltd. (NASDAQ:INMD – Get Rating) by 76.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,559 shares of the healthcare company’s stock after selling 38,064 shares during the quarter. National Asset Management Inc.’s holdings in InMode were worth $428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also bought and sold shares of INMD. Russell Investments Group Ltd. lifted its stake in InMode by 85.0% in the 4th quarter. Russell Investments Group Ltd. now owns 38,696 shares of the healthcare company’s stock worth $2,717,000 after purchasing an additional 17,784 shares in the last quarter. National Bank of Canada FI purchased a new stake in InMode in the 4th quarter worth approximately $152,000. Signaturefd LLC lifted its stake in InMode by 31.9% in the 4th quarter. Signaturefd LLC now owns 1,124 shares of the healthcare company’s stock worth $79,000 after purchasing an additional 272 shares in the last quarter. Van ECK Associates Corp raised its position in shares of InMode by 44.8% during the 4th quarter. Van ECK Associates Corp now owns 17,533 shares of the healthcare company’s stock valued at $1,237,000 after buying an additional 5,421 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of InMode by 4.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,417 shares of the healthcare company’s stock valued at $2,006,000 after buying an additional 1,128 shares in the last quarter. 53.58% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the stock. Canaccord Genuity Group lowered their price objective on shares of InMode from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, June 30th. TheStreet cut shares of InMode from a “c-” rating to a “d+” rating in a research report on Tuesday, May 17th. Robert W. Baird lowered their price objective on shares of InMode from $57.00 to $44.00 in a research report on Wednesday, July 13th. Needham & Company LLC restated a “buy” rating and set a $82.00 price objective on shares of InMode in a research report on Monday, April 18th. Finally, Canaccord Genuity Group reduced their target price on shares of InMode from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, June 30th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, InMode currently has a consensus rating of “Buy” and an average price target of $65.17.
InMode Stock Up 13.9 %
InMode (NASDAQ:INMD – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The healthcare company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $113.55 million for the quarter, compared to analyst estimates of $103.00 million. InMode had a net margin of 44.79% and a return on equity of 43.98%. The company’s revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.02 EPS.
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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