First Trust Advisors LP Purchases New Holdings in InMode Ltd. (NASDAQ:INMD)

First Trust Advisors LP acquired a new position in shares of InMode Ltd. (NASDAQ:INMD) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 55,951 shares of the healthcare company’s stock, valued at approximately $934,000. First Trust Advisors LP owned about 0.08% of InMode at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. River Road Asset Management LLC bought a new position in shares of InMode during the 4th quarter valued at about $8,572,000. Norges Bank bought a new position in shares of InMode in the fourth quarter valued at $2,943,000. Seizert Capital Partners LLC raised its holdings in shares of InMode by 105.2% in the 4th quarter. Seizert Capital Partners LLC now owns 250,627 shares of the healthcare company’s stock valued at $4,185,000 after purchasing an additional 128,483 shares during the period. Barclays PLC lifted its position in shares of InMode by 113.5% in the third quarter. Barclays PLC now owns 169,630 shares of the healthcare company’s stock valued at $2,876,000 after buying an additional 90,173 shares during the last quarter. Finally, Trexquant Investment LP boosted its position in InMode by 105.0% during the fourth quarter. Trexquant Investment LP now owns 170,486 shares of the healthcare company’s stock worth $2,847,000 after purchasing an additional 87,305 shares during the period. 68.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

INMD has been the topic of several recent research reports. UBS Group lowered their price objective 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 reiterated a “hold” rating on shares of InMode in a research report on Monday, April 28th. Barclays lowered their price target on shares of InMode from $29.00 to $24.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Canaccord Genuity Group cut their target price on shares of InMode from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, April 29th. Finally, Jefferies Financial Group reduced their price target on InMode from $16.00 to $15.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, InMode currently has a consensus rating of “Hold” and a consensus target price of $18.54.

InMode Stock Up 0.1 %

Shares of NASDAQ:INMD opened at $14.24 on Friday. The stock’s 50 day moving average is $16.52 and its 200-day moving average is $17.47. InMode Ltd. has a twelve month low of $13.68 and a twelve month high of $19.85. The firm has a market capitalization of $990.17 million, a price-to-earnings ratio of 6.06 and a beta of 2.02.

InMode (NASDAQ:INMD) last issued its quarterly earnings data on Monday, April 28th. The healthcare company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.14). The company had revenue of $77.87 million during the quarter, compared to analysts’ expectations of $82.21 million. InMode had a return on equity of 18.25% and a net margin of 45.91%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. Equities research analysts anticipate that InMode Ltd. will post 1.75 earnings per share for the current fiscal year.

InMode 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.