Mirae Asset Global Investments Co. Ltd. Boosts Holdings in InMode Ltd. (NASDAQ:INMD)

Mirae Asset Global Investments Co. Ltd. grew its position in InMode Ltd. (NASDAQ:INMD) by 2.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 35,643 shares of the healthcare company’s stock after purchasing an additional 701 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in InMode were worth $793,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its stake in shares of InMode by 18.2% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 65,000 shares of the healthcare company’s stock valued at $1,471,000 after buying an additional 10,000 shares during the period. Compound Global Advisors LLC grew its stake in shares of InMode by 27.3% in the 4th quarter. Compound Global Advisors LLC now owns 790,700 shares of the healthcare company’s stock valued at $17,585,000 after buying an additional 169,800 shares during the period. Sowell Financial Services LLC purchased a new stake in shares of InMode in the 4th quarter valued at approximately $224,000. Boston Trust Walden Corp purchased a new stake in shares of InMode in the 4th quarter valued at approximately $32,366,000. Finally, Kercheville Advisors LLC grew its stake in shares of InMode by 6.6% in the 4th quarter. Kercheville Advisors LLC now owns 99,675 shares of the healthcare company’s stock valued at $2,217,000 after buying an additional 6,200 shares during the period. Hedge funds and other institutional investors own 68.04% of the company’s stock.

Analysts Set New Price Targets

INMD has been the subject of a number of research analyst reports. Barclays lowered their price objective on shares of InMode from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. UBS Group increased their price objective 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. Finally, Needham & Company LLC reaffirmed 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $32.80.

InMode Stock Down 0.1 %

InMode stock opened at $17.36 on Thursday. The firm has a market cap of $1.46 billion, a PE ratio of 7.55 and a beta of 2.16. InMode Ltd. has a 52-week low of $16.96 and a 52-week high of $48.25. The company’s 50 day moving average is $20.57 and its two-hundred day moving average is $21.69.

InMode (NASDAQ:INMD) last released 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 analyst estimates of $124.77 million. InMode had a net margin of 40.22% and a return on equity of 29.80%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. On average, equities research analysts anticipate that InMode Ltd. will post 2.04 earnings per share for the current fiscal 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.