Handelsbanken Fonder AB Purchases 17,793 Shares of InMode Ltd. (NASDAQ:INMD)

Handelsbanken Fonder AB raised its position in InMode Ltd. (NASDAQ:INMD) by 99.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 35,616 shares of the healthcare company’s stock after purchasing an additional 17,793 shares during the quarter. Handelsbanken Fonder AB’s holdings in InMode were worth $792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new stake in InMode in the 3rd quarter valued at about $27,000. Carmel Capital Partners LLC bought a new stake in InMode in the third quarter valued at approximately $36,000. Sunbelt Securities Inc. acquired a new stake in shares of InMode in the third quarter valued at approximately $47,000. CWM LLC boosted its stake in shares of InMode by 38.3% during the 4th quarter. CWM LLC now owns 2,454 shares of the healthcare company’s stock worth $55,000 after acquiring an additional 680 shares during the period. Finally, NBC Securities Inc. acquired a new position in shares of InMode during the 3rd quarter worth approximately $79,000. Institutional investors own 68.04% of the company’s stock.

InMode Price Performance

INMD stock opened at $17.23 on Tuesday. The business’s fifty day moving average price is $20.21 and its two-hundred day moving average price is $21.45. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 7.49 and a beta of 2.16. InMode Ltd. has a fifty-two week low of $16.82 and a fifty-two week high of $48.25.

InMode (NASDAQ:INMD) last released 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 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%. InMode’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. Research analysts expect that InMode Ltd. will post 2.04 EPS for the current year.

Analysts Set New Price Targets

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

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.