InMode Ltd. (NASDAQ:INMD) Position Increased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale raised its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 18.2% in the 4th quarter, Holdings Channel reports. The firm owned 65,000 shares of the healthcare company’s stock after purchasing an additional 10,000 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in InMode were worth $1,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in InMode by 223.8% in the 2nd quarter. BlackRock Inc. now owns 5,443,513 shares of the healthcare company’s stock valued at $203,315,000 after purchasing an additional 3,762,511 shares during the last quarter. Renaissance Technologies LLC boosted its position in InMode by 23.2% during the 1st quarter. Renaissance Technologies LLC now owns 3,181,662 shares of the healthcare company’s stock worth $117,435,000 after acquiring an additional 598,300 shares during the period. Millennium Management LLC grew its stake in shares of InMode by 78.2% in the fourth quarter. Millennium Management LLC now owns 1,916,711 shares of the healthcare company’s stock worth $68,427,000 after purchasing an additional 840,821 shares in the last quarter. State Street Corp increased its holdings in shares of InMode by 199.1% during the second quarter. State Street Corp now owns 1,736,843 shares of the healthcare company’s stock valued at $64,871,000 after purchasing an additional 1,156,213 shares during the period. Finally, LSV Asset Management raised its stake 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 valued at $51,137,000 after purchasing an additional 1,632,919 shares in the last quarter. Institutional investors own 68.04% of the company’s stock.

Wall Street Analysts Forecast Growth

INMD has been the topic of a number of recent analyst reports. Barclays cut their price objective on shares of InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Tuesday, April 9th. Finally, UBS Group boosted their price target on shares of InMode from $24.00 to $26.00 and gave the stock a “neutral” rating in a research 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. According to MarketBeat.com, InMode presently has an average rating of “Hold” and an average price target of $32.80.

InMode Trading Down 3.0 %

Shares of INMD opened at $17.92 on Monday. The business’s 50-day moving average price is $21.73 and its 200 day moving average price is $22.31. The stock has a market capitalization of $1.50 billion, a P/E ratio of 7.79 and a beta of 2.16. InMode Ltd. has a 1-year low of $17.74 and a 1-year high of $48.25.

InMode (NASDAQ:INMD) last issued its quarterly earnings results on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $126.80 million for the quarter, compared to analysts’ expectations of $124.77 million. InMode had a return on equity of 29.80% and a net margin of 40.22%. InMode’s revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. On average, research analysts predict that InMode Ltd. will post 2.04 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.