Raymond James & Associates Lowers Holdings in InMode Ltd. (NASDAQ:INMD)

Raymond James & Associates trimmed its position in InMode Ltd. (NASDAQ:INMD) by 24.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 90,622 shares of the healthcare company’s stock after selling 29,989 shares during the period. Raymond James & Associates’ holdings in InMode were worth $2,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC boosted its position in shares of InMode by 1,910.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 18,070 shares of the healthcare company’s stock worth $402,000 after purchasing an additional 17,171 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of InMode by 9.1% during the 3rd quarter. Vanguard Group Inc. now owns 889,004 shares of the healthcare company’s stock worth $27,079,000 after purchasing an additional 74,082 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of InMode during the 3rd quarter worth $47,000. Citigroup Inc. boosted its position in shares of InMode by 1.6% during the 3rd quarter. Citigroup Inc. now owns 63,332 shares of the healthcare company’s stock worth $1,929,000 after purchasing an additional 975 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of InMode during the 3rd quarter worth $317,000. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INMD has been the topic of several research analyst reports. Barclays decreased their target price on shares of InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. UBS Group lifted their price target on InMode from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research note on Tuesday, April 9th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, InMode has an average rating of “Hold” and an average price target of $32.80.

InMode Trading Down 0.4 %

Shares of INMD stock opened at $17.62 on Wednesday. The firm has a 50-day moving average price of $21.47 and a 200 day moving average price of $22.13. InMode Ltd. has a twelve month low of $17.29 and a twelve month high of $48.25. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 7.66 and a beta of 2.16.

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

InMode 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.