Trexquant Investment LP Acquires New Position in InMode Ltd. (NASDAQ:INMD)

Trexquant Investment LP acquired a new stake in InMode Ltd. (NASDAQ:INMDFree Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 37,159 shares of the healthcare company’s stock, valued at approximately $826,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Trust Walden Corp purchased a new stake in shares of InMode during the fourth quarter worth $32,366,000. Jennison Associates LLC acquired a new stake in shares of InMode during the 4th quarter valued at about $15,101,000. Federated Hermes Inc. grew its stake in shares of InMode by 5,512.7% in the 4th quarter. Federated Hermes Inc. now owns 582,434 shares of the healthcare company’s stock valued at $12,953,000 after buying an additional 572,057 shares in the last quarter. Norges Bank acquired a new position in InMode in the fourth quarter worth approximately $8,890,000. Finally, M&G Investment Management Ltd. bought a new position in InMode during the fourth quarter valued at approximately $8,041,000. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Stock Performance

InMode stock opened at $18.87 on Friday. The business’s 50-day simple moving average is $18.71 and its 200-day simple moving average is $21.17. InMode Ltd. has a 52 week low of $16.72 and a 52 week high of $48.25. The firm has a market capitalization of $1.58 billion, a PE ratio of 8.94 and a beta of 2.20.

InMode (NASDAQ:INMDGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The healthcare company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.32 by $0.09. InMode had a return on equity of 26.15% and a net margin of 38.84%. The company had revenue of $80.28 million for the quarter, compared to the consensus estimate of $80.10 million. Research analysts forecast that InMode Ltd. will post 1.8 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on INMD shares. UBS Group raised 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. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research note on Friday, May 3rd. Finally, Barclays cut their price objective on InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.80.

Check Out Our Latest Stock Report on INMD

InMode Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for InMode (NASDAQ:INMD)

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