InMode Ltd. (NASDAQ:INMD) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its position in shares of InMode Ltd. (NASDAQ:INMD) by 34.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,400 shares of the healthcare company’s stock after purchasing an additional 9,300 shares during the period. Handelsbanken Fonder AB owned about 0.05% of InMode worth $646,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC increased its position in shares of InMode by 2.3% during the fourth quarter. Renaissance Technologies LLC now owns 2,266,618 shares of the healthcare company’s stock worth $37,853,000 after purchasing an additional 50,200 shares in the last quarter. LSV Asset Management increased its position in shares of InMode by 0.4% during the fourth 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. increased its position in shares of InMode by 4.4% during the fourth 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. Systematic Financial Management LP increased its position in shares of InMode by 4.6% during the fourth quarter. Systematic Financial Management LP now owns 1,026,823 shares of the healthcare company’s stock worth $17,148,000 after purchasing an additional 44,712 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of InMode by 17.0% during the fourth quarter. Northern Trust Corp now owns 658,154 shares of the healthcare company’s stock worth $10,991,000 after purchasing an additional 95,652 shares in the last quarter. Institutional investors and hedge funds own 68.04% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on INMD. Needham & Company LLC reissued a “hold” rating on shares of InMode in a report on Monday, April 28th. BTIG Research lowered InMode from a “buy” rating to a “neutral” rating in a report on Tuesday, April 29th. Robert W. Baird lowered InMode from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $22.00 to $16.00 in a report on Monday, April 28th. Barclays lowered their price target on InMode from $29.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Finally, Canaccord Genuity Group lowered their price target on InMode from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, April 29th. Seven equities research 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, InMode currently has a consensus rating of “Hold” and an average target price of $18.54.

InMode Stock Performance

NASDAQ:INMD opened at $13.36 on Monday. The stock has a fifty day moving average price of $14.66 and a two-hundred day moving average price of $16.73. The stock has a market capitalization of $844.47 million, a price-to-earnings ratio of 5.69 and a beta of 1.98. InMode Ltd. has a 1 year low of $13.28 and a 1 year high of $19.85.

InMode (NASDAQ:INMD) last released 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 business 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 company’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS. On average, analysts predict that InMode Ltd. will post 1.75 EPS 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.