Zurcher Kantonalbank Zurich Cantonalbank Buys 16,088 Shares of InMode Ltd. (NASDAQ:INMD)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in InMode Ltd. (NASDAQ:INMD) by 43.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,719 shares of the healthcare company’s stock after purchasing an additional 16,088 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of InMode worth $1,172,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of InMode during the 3rd quarter worth $1,930,000. Exchange Traded Concepts LLC purchased a new position in shares of InMode during the 3rd quarter worth $27,000. Handelsbanken Fonder AB boosted its stake in shares of InMode by 35.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 17,823 shares of the healthcare company’s stock worth $543,000 after acquiring an additional 4,662 shares during the last quarter. KRS Capital Management LLC boosted its stake in shares of InMode by 29.0% during the 3rd quarter. KRS Capital Management LLC now owns 8,784 shares of the healthcare company’s stock worth $268,000 after acquiring an additional 1,975 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of InMode by 32.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 35,018 shares of the healthcare company’s stock worth $1,067,000 after acquiring an additional 8,667 shares during the last quarter. Institutional investors own 68.04% of the company’s stock.

InMode Stock Up 0.7 %

InMode stock opened at $17.14 on Friday. The company’s 50-day moving average price is $20.32 and its 200-day moving average price is $21.59. InMode Ltd. has a twelve month low of $16.82 and a twelve month high of $48.25. The company has a market cap of $1.44 billion, a PE ratio of 7.45 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 for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $124.77 million. During the same period in the previous year, the firm posted $0.69 EPS. The business’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, sell-side analysts expect that InMode Ltd. will post 2.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on INMD shares. Needham & Company LLC restated a “hold” rating on shares of InMode in a research note on Tuesday, April 9th. UBS Group lifted their target price on shares of InMode from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Finally, Barclays lowered their target price on shares of InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.