InMode Ltd. (NASDAQ:INMD) Stock Holdings Lessened by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its holdings in InMode Ltd. (NASDAQ:INMD) by 20.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 40,053 shares of the healthcare company’s stock after selling 10,240 shares during the period. Envestnet Asset Management Inc. owned about 0.06% of InMode worth $669,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of INMD. SBI Securities Co. Ltd. acquired a new position in InMode in the fourth quarter valued at approximately $87,000. Farther Finance Advisors LLC lifted its holdings in shares of InMode by 26.2% in the 4th quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company’s stock worth $93,000 after purchasing an additional 1,154 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in InMode during the 4th quarter valued at approximately $114,000. WINTON GROUP Ltd bought a new position in InMode during the 4th quarter worth $174,000. Finally, HighTower Advisors LLC acquired a new stake in InMode in the fourth quarter worth $180,000. Institutional investors own 68.04% of the company’s stock.

Wall Street Analyst Weigh In

INMD has been the subject of several analyst reports. Baird R W downgraded shares of InMode from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Canaccord Genuity Group reduced their target price on shares of InMode from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, April 29th. UBS Group decreased their target price on shares of InMode from $19.00 to $16.25 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Barclays cut their price target on InMode from $29.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Jefferies Financial Group decreased their price objective on InMode from $16.00 to $15.00 and set a “hold” rating for the company in a report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $18.54.

InMode Trading Down 0.9 %

INMD stock opened at $14.57 on Friday. The firm’s 50-day moving average is $16.89 and its two-hundred day moving average is $17.56. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 6.20 and a beta of 1.96. InMode Ltd. has a 52 week low of $13.68 and a 52 week high of $19.85.

InMode (NASDAQ:INMD) last released its earnings results on Monday, April 28th. The healthcare company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.14). InMode had a return on equity of 18.25% and a net margin of 45.91%. The firm had revenue of $77.87 million during the quarter, compared to analyst estimates of $82.21 million. During the same quarter last year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, equities research analysts predict that InMode Ltd. will post 1.75 earnings per share for the current 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.