Federated Hermes Inc. Has $12.95 Million Holdings in InMode Ltd. (NASDAQ:INMD)

Federated Hermes Inc. raised its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 5,512.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 582,434 shares of the healthcare company’s stock after purchasing an additional 572,057 shares during the period. Federated Hermes Inc.’s holdings in InMode were worth $12,953,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in INMD. Exchange Traded Concepts LLC acquired a new position in InMode during the 3rd quarter valued at about $27,000. Carmel Capital Partners LLC acquired a new position in InMode during the 3rd quarter valued at about $36,000. Newbridge Financial Services Group Inc. acquired a new position in InMode during the 3rd quarter valued at about $40,000. Sunbelt Securities Inc. acquired a new stake in shares of InMode in the 3rd quarter valued at approximately $47,000. Finally, NBC Securities Inc. acquired a new stake in shares of InMode in the 3rd quarter valued at approximately $79,000. 68.04% of the stock is currently owned by institutional investors and hedge funds.

InMode Stock Performance

NASDAQ INMD opened at $17.37 on Wednesday. The business has a 50 day simple moving average of $20.68 and a 200 day simple moving average of $21.72. InMode Ltd. has a 52-week low of $16.96 and a 52-week high of $48.25. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 7.55 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 (EPS) for the quarter, topping 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 business had revenue of $126.80 million during the quarter, compared to analysts’ expectations of $124.77 million. During the same period in the prior year, the business earned $0.69 EPS. InMode’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, analysts predict that InMode Ltd. will post 2.04 EPS for the current year.

Analyst Upgrades and Downgrades

INMD has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Tuesday, April 9th. UBS Group increased 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, 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. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $32.80.

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.