InMode Ltd. (NASDAQ:INMD) Stock Position Lifted by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP boosted its stake in shares of InMode Ltd. (NASDAQ:INMD) by 7.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,200 shares of the healthcare company’s stock after purchasing an additional 3,410 shares during the period. ExodusPoint Capital Management LP owned about 0.06% of InMode worth $1,572,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC grew its position in InMode by 969.0% in the first quarter. Global Retirement Partners LLC now owns 1,069 shares of the healthcare company’s stock worth $36,000 after acquiring an additional 969 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in InMode in the fourth quarter worth approximately $37,000. CoreCap Advisors LLC bought a new stake in InMode in the fourth quarter worth approximately $37,000. Venturi Wealth Management LLC bought a new stake in InMode in the first quarter worth approximately $38,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of InMode in the first quarter worth $41,000. 65.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on INMD. Robert W. Baird boosted their price objective on shares of InMode from $53.00 to $61.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Canaccord Genuity Group boosted their price objective on shares of InMode from $47.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, Barclays upped their target price on shares of InMode from $47.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, August 1st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.67.

InMode Stock Performance

Shares of INMD stock opened at $39.49 on Friday. InMode Ltd. has a 52-week low of $26.10 and a 52-week high of $48.25. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 18.45 and a beta of 2.10. The firm has a fifty day moving average of $40.74 and a 200-day moving average of $36.53.

InMode (NASDAQ:INMD) last announced its quarterly earnings data on Thursday, July 27th. The healthcare company reported $0.65 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.65. InMode had a net margin of 36.77% and a return on equity of 35.03%. The company had revenue of $136.08 million during the quarter, compared to analysts’ expectations of $135.80 million. On average, sell-side analysts predict that InMode Ltd. will post 2.45 earnings per share for the current year.

InMode Company 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.