InMode Ltd. (NASDAQ:INMD) Position Boosted by Vanguard Group Inc.

Vanguard Group Inc. raised its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 9.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 889,004 shares of the healthcare company’s stock after acquiring an additional 74,082 shares during the quarter. Vanguard Group Inc.’s holdings in InMode were worth $27,079,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Exchange Traded Concepts LLC purchased a new position in InMode during the 3rd quarter valued at about $27,000. Carmel Capital Partners LLC purchased a new position in InMode during the 3rd quarter valued at about $36,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of InMode during the 3rd quarter valued at about $40,000. Brown Brothers Harriman & Co. acquired a new stake in shares of InMode during the 1st quarter valued at about $41,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of InMode by 97.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,472 shares of the healthcare company’s stock valued at $45,000 after buying an additional 725 shares during the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Stock Performance

INMD opened at $17.92 on Friday. The business has a 50 day moving average price of $21.73 and a 200 day moving average price of $22.45. InMode Ltd. has a twelve month low of $17.74 and a twelve month high of $48.25. The firm has a market cap of $1.50 billion, a P/E ratio of 7.79 and a beta of 2.16.

InMode (NASDAQ:INMD) last posted its earnings results on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. InMode had a return on equity of 29.80% and a net margin of 40.22%. The firm had revenue of $126.80 million during the quarter, compared to analyst estimates of $124.77 million. During the same period in the previous year, the company earned $0.69 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, analysts anticipate that InMode Ltd. will post 2.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

INMD has been the subject of several research reports. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a report on Tuesday. Barclays reduced their price target on InMode from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday. Finally, UBS Group lifted their price target on InMode from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Four research 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 stock has a consensus rating of “Hold” and a consensus target price of $32.80.

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.