Strs Ohio Raises Holdings in InMode Ltd. (NASDAQ:INMD)

Strs Ohio increased its position in InMode Ltd. (NASDAQ:INMD) by 17.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,300 shares of the healthcare company’s stock after buying an additional 4,200 shares during the quarter. Strs Ohio’s holdings in InMode were worth $629,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in INMD. Exchange Traded Concepts LLC purchased a new position in shares of InMode in the 3rd quarter worth $27,000. Carmel Capital Partners LLC purchased a new position in shares of InMode in the 3rd quarter worth $36,000. Sunbelt Securities Inc. purchased a new position in shares of InMode in the 3rd quarter worth $47,000. NBC Securities Inc. purchased a new position in shares of InMode in the 3rd quarter worth $79,000. Finally, Covestor Ltd increased its holdings in InMode by 83.2% in the 3rd quarter. Covestor Ltd now owns 3,291 shares of the healthcare company’s stock valued at $100,000 after purchasing an additional 1,495 shares in the last quarter. 68.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

InMode Stock Performance

NASDAQ:INMD opened at $17.14 on Friday. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 7.45 and a beta of 2.16. InMode Ltd. has a one year low of $16.82 and a one year high of $48.25. The stock has a 50-day simple moving average of $20.32 and a 200 day simple moving average of $21.59.

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

About InMode

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.