Rhumbline Advisers Sells 14,704 Shares of InMode Ltd. (NASDAQ:INMD)

Rhumbline Advisers lessened its stake in InMode Ltd. (NASDAQ:INMD) by 12.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,324 shares of the healthcare company’s stock after selling 14,704 shares during the period. Rhumbline Advisers owned about 0.14% of InMode worth $1,780,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of INMD. Renaissance Technologies LLC lifted its holdings in InMode by 2.3% in the 4th quarter. Renaissance Technologies LLC now owns 2,266,618 shares of the healthcare company’s stock valued at $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 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 during the last quarter. JPMorgan Chase & Co. increased 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 during the last quarter. Systematic Financial Management LP increased its position in shares of InMode by 4.6% during the 4th 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 during the last quarter. Finally, Northern Trust Corp increased its position in shares of InMode by 17.0% during the 4th 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 during the last quarter. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on INMD. Baird R W downgraded InMode from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. Needham & Company LLC restated a “hold” rating on shares of InMode in a report on Monday, April 28th. UBS Group lowered their target price on InMode from $19.00 to $16.25 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Canaccord Genuity Group lowered their target price on InMode from $17.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, April 29th. Finally, Barclays decreased their price objective on InMode from $29.00 to $24.00 and set an “overweight” rating for the company in a research note 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. According to data from MarketBeat, InMode presently has an average rating of “Hold” and an average price target of $18.54.

InMode Stock Down 0.4%

INMD stock opened at $13.37 on Wednesday. The business has a 50 day moving average price of $14.60 and a 200 day moving average price of $16.66. The stock has a market cap of $845.12 million, a price-to-earnings ratio of 5.74 and a beta of 1.98. InMode Ltd. has a fifty-two week low of $13.16 and a fifty-two week high of $19.85.

InMode (NASDAQ:INMD) last announced its earnings results on Monday, April 28th. The healthcare company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.14). The business had revenue of $77.87 million during the quarter, compared to analyst estimates of $82.21 million. InMode had a net margin of 44.79% and a return on equity of 17.17%. The business’s revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. As a group, sell-side analysts anticipate 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.