Farther Finance Advisors LLC Cuts Holdings in InMode Ltd. (NASDAQ:INMD)

Farther Finance Advisors LLC trimmed its position in InMode Ltd. (NASDAQ:INMD) by 63.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,016 shares of the healthcare company’s stock after selling 3,539 shares during the period. Farther Finance Advisors LLC’s holdings in InMode were worth $36,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INMD. GAMMA Investing LLC raised its stake in shares of InMode by 13,923.8% during the 1st quarter. GAMMA Investing LLC now owns 2,945 shares of the healthcare company’s stock worth $520,000 after purchasing an additional 2,924 shares during the period. Orion Capital Management LLC purchased a new stake in InMode during the fourth quarter worth about $65,000. SBI Securities Co. Ltd. bought a new stake in InMode in the fourth quarter worth about $87,000. Covestor Ltd boosted its stake in InMode by 13.9% in the fourth quarter. Covestor Ltd now owns 5,936 shares of the healthcare company’s stock valued at $99,000 after acquiring an additional 723 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of InMode by 6,128.7% during the 4th quarter. Lazard Asset Management LLC now owns 6,291 shares of the healthcare company’s stock valued at $105,000 after acquiring an additional 6,190 shares during the period. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Stock Performance

Shares of INMD opened at $13.76 on Wednesday. The business has a 50-day moving average of $14.44 and a 200 day moving average of $16.47. InMode Ltd. has a fifty-two week low of $13.14 and a fifty-two week high of $19.85. The firm has a market cap of $869.77 million, a P/E ratio of 5.91 and a beta of 1.98.

InMode (NASDAQ:INMD) last posted 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). The company had revenue of $77.87 million for the quarter, compared to analysts’ expectations of $82.21 million. InMode had a net margin of 44.79% and a return on equity of 17.17%. The firm’s quarterly 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 EPS. As a group, research analysts predict that InMode Ltd. will post 1.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Jefferies Financial Group lowered their price target on shares of InMode from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Monday, April 14th. BTIG Research cut shares of InMode from a “buy” rating to a “neutral” rating in a report on Tuesday, April 29th. Barclays lowered their price target on shares of InMode from $29.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Robert W. Baird lowered InMode from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $22.00 to $16.00 in a report on Monday, April 28th. Finally, Needham & Company LLC reissued a “hold” rating on shares of InMode in a report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $18.54.

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.