Raymond James Financial Inc. Purchases New Stake in InMode Ltd. (NASDAQ:INMD)

Raymond James Financial Inc. acquired a new position in shares of InMode Ltd. (NASDAQ:INMD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 79,751 shares of the healthcare company’s stock, valued at approximately $1,332,000. Raymond James Financial Inc. owned 0.11% of InMode as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new stake in InMode during the 4th quarter worth $87,000. Farther Finance Advisors LLC grew its stake in shares of InMode by 26.2% in the fourth quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company’s stock valued at $93,000 after buying an additional 1,154 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of InMode in the fourth quarter valued at about $114,000. WINTON GROUP Ltd acquired a new position in InMode during the 4th quarter worth approximately $174,000. Finally, HighTower Advisors LLC purchased a new position in InMode in the 4th quarter worth approximately $180,000. Institutional investors and hedge funds own 68.04% of the company’s stock.

Wall Street Analyst Weigh In

INMD has been the topic of a number of recent research reports. Robert W. Baird cut shares of InMode from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $22.00 to $16.00 in a research report on Monday, April 28th. Canaccord Genuity Group decreased their price objective on shares of InMode from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, April 29th. UBS Group dropped their target price on InMode from $19.00 to $16.25 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Needham & Company LLC reissued a “hold” rating on shares of InMode in a report on Monday, April 28th. Finally, Jefferies Financial Group dropped their price objective on InMode from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, InMode has a consensus 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 stock’s 50 day simple moving average is $16.89 and its 200 day simple moving average is $17.56. InMode Ltd. has a 12-month low of $13.68 and a 12-month high of $19.85. The firm has a market cap of $1.01 billion, a P/E ratio of 6.20 and a beta of 1.96.

InMode (NASDAQ:INMD) last issued 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 business had revenue of $77.87 million for the quarter, compared to analyst estimates of $82.21 million. During the same period last year, the company posted $0.32 earnings per share. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, research analysts forecast that InMode Ltd. will post 1.75 EPS 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.