Raymond James Financial Services Advisors Inc. Sells 88,222 Shares of InMode Ltd. (NASDAQ:INMD)

Raymond James Financial Services Advisors Inc. reduced its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 61.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,283 shares of the healthcare company’s stock after selling 88,222 shares during the quarter. Raymond James Financial Services Advisors Inc. owned approximately 0.07% of InMode worth $1,252,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in INMD. BlackRock Inc. boosted its position in InMode by 223.8% during the second quarter. BlackRock Inc. now owns 5,443,513 shares of the healthcare company’s stock worth $203,315,000 after purchasing an additional 3,762,511 shares during the period. Renaissance Technologies LLC grew its stake in InMode by 23.2% in the 1st quarter. Renaissance Technologies LLC now owns 3,181,662 shares of the healthcare company’s stock valued at $117,435,000 after buying an additional 598,300 shares during the last quarter. Millennium Management LLC raised its holdings in InMode by 78.2% in the 4th quarter. Millennium Management LLC now owns 1,916,711 shares of the healthcare company’s stock valued at $68,427,000 after acquiring an additional 840,821 shares during the period. State Street Corp lifted its position in InMode by 199.1% during the second quarter. State Street Corp now owns 1,736,843 shares of the healthcare company’s stock worth $64,871,000 after acquiring an additional 1,156,213 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in shares of InMode by 3,557.6% during the third quarter. LSV Asset Management now owns 1,678,819 shares of the healthcare company’s stock worth $51,137,000 after acquiring an additional 1,632,919 shares during the period. 68.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

INMD has been the topic of a number of recent research reports. Barclays lowered their target price on InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday. UBS Group lifted their price target on shares of InMode from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Tuesday, April 9th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $32.80.

InMode Trading Down 3.0 %

NASDAQ INMD opened at $17.92 on Friday. InMode Ltd. has a 1 year low of $17.74 and a 1 year high of $48.25. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 7.79 and a beta of 2.16. The firm’s 50 day simple moving average is $21.73 and its 200 day simple moving average is $22.38.

InMode (NASDAQ:INMD) last issued its earnings results on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $124.77 million. During the same quarter last year, the business posted $0.69 EPS. The company’s revenue was down 5.1% compared to the same quarter last year. On average, equities research analysts forecast that InMode Ltd. will post 2.04 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.