Allspring Global Investments Holdings LLC Decreases Stock Holdings in InMode Ltd. (NASDAQ:INMD)

Allspring Global Investments Holdings LLC decreased its position in shares of InMode Ltd. (NASDAQ:INMD) by 58.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,954 shares of the healthcare company’s stock after selling 9,764 shares during the period. Allspring Global Investments Holdings LLC’s holdings in InMode were worth $155,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC purchased a new position in shares of InMode in the third quarter valued at $27,000. Carmel Capital Partners LLC acquired a new stake in shares of InMode in the third quarter valued at approximately $36,000. Sunbelt Securities Inc. purchased a new position in shares of InMode during the 3rd quarter worth approximately $47,000. NBC Securities Inc. acquired a new position in shares of InMode during the 3rd quarter worth approximately $79,000. Finally, Covestor Ltd lifted its stake 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 buying an additional 1,495 shares in the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on INMD. Needham & Company LLC reissued a “hold” rating on shares of InMode in a report on Tuesday, April 9th. UBS Group lifted their price target on shares of InMode from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Finally, Barclays dropped their price objective on InMode from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Four 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 currently has an average rating of “Hold” and a consensus target price of $32.80.

InMode Stock Up 0.7 %

INMD opened at $17.14 on Monday. The firm’s 50 day moving average is $20.32 and its 200-day moving average is $21.49. The firm has a market capitalization of $1.44 billion, a P/E ratio of 7.45 and a beta of 2.16. InMode Ltd. has a 52-week low of $16.82 and a 52-week high of $48.25.

InMode (NASDAQ:INMD) last announced its earnings results on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. InMode had a return on equity of 29.80% and a net margin of 40.22%. The company had revenue of $126.80 million during the quarter, compared to the consensus estimate of $124.77 million. During the same period last year, the firm earned $0.69 earnings per share. The company’s revenue was down 5.1% on a year-over-year basis. Equities analysts expect that InMode Ltd. will post 2.04 earnings per share for the current fiscal year.

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.