InMode Ltd. (NASDAQ:INMD) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in InMode Ltd. (NASDAQ:INMD) by 11.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,356 shares of the healthcare company’s stock after selling 3,290 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in InMode were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INMD. Renaissance Technologies LLC boosted its stake in shares of InMode by 2.3% in the fourth quarter. Renaissance Technologies LLC now owns 2,266,618 shares of the healthcare company’s stock valued at $37,853,000 after buying an additional 50,200 shares in the last quarter. LSV Asset Management boosted its position in shares of InMode by 0.4% during the 4th quarter. LSV Asset Management now owns 1,715,071 shares of the healthcare company’s stock worth $28,642,000 after purchasing an additional 6,300 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of InMode by 4.4% during the 4th quarter. JPMorgan Chase & Co. now owns 1,084,241 shares of the healthcare company’s stock worth $18,107,000 after purchasing an additional 45,638 shares in the last quarter. River Road Asset Management LLC acquired a new position in shares of InMode during the 4th quarter worth $8,572,000. Finally, Yelin Lapidot Holdings Management Ltd. increased its holdings in shares of InMode by 0.6% in the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 308,852 shares of the healthcare company’s stock valued at $5,158,000 after purchasing an additional 1,950 shares in the last quarter. Institutional investors and hedge funds own 68.04% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. UBS Group lowered their target price on shares of InMode from $19.00 to $16.25 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Canaccord Genuity Group reduced their price target 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. Baird R W cut InMode from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. BTIG Research cut InMode from a “buy” rating to a “neutral” rating in a report on Tuesday, April 29th. Finally, Barclays decreased their target price on InMode from $29.00 to $24.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, InMode currently has a consensus rating of “Hold” and a consensus price target of $18.54.

InMode Stock Performance

INMD stock opened at $14.67 on Friday. The stock’s 50 day moving average price is $16.00 and its 200 day moving average price is $17.33. The firm has a market cap of $1.02 billion, a P/E ratio of 6.24 and a beta of 2.02. InMode Ltd. has a 1 year low of $13.68 and a 1 year high of $19.85.

InMode (NASDAQ:INMD) last issued its quarterly earnings data on Monday, April 28th. The healthcare company reported $0.31 earnings per share (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 net margin of 45.91% and a return on equity of 18.25%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share. On average, research analysts predict that InMode Ltd. will post 1.75 earnings per share for the current year.

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.