77,689 Shares in InMode Ltd. (NASDAQ:INMD) Bought by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC purchased a new stake in InMode Ltd. (NASDAQ:INMD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 77,689 shares of the healthcare company’s stock, valued at approximately $1,728,000.

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

InMode Stock Performance

INMD stock opened at $17.41 on Monday. The stock’s 50 day simple moving average is $20.99 and its 200 day simple moving average is $21.88. The company has a market cap of $1.46 billion, a P/E ratio of 7.57 and a beta of 2.16. InMode Ltd. has a fifty-two week low of $16.96 and a fifty-two week high of $48.25.

InMode (NASDAQ:INMD) last issued its earnings results on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The company 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 quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the business earned $0.69 EPS. Equities analysts predict that InMode Ltd. will post 2.04 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on INMD. Barclays cut their price target 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 raised their target price 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 reissued a “hold” rating on shares of InMode in a research note on Tuesday, April 9th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.80.

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.