Teacher Retirement System of Texas Acquires 12,715 Shares of InMode Ltd. (NASDAQ:INMD)

Teacher Retirement System of Texas raised its holdings in InMode Ltd. (NASDAQ:INMD) by 69.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,028 shares of the healthcare company’s stock after purchasing an additional 12,715 shares during the period. Teacher Retirement System of Texas’ holdings in InMode were worth $550,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Strategic Global Advisors LLC lifted its holdings in shares of InMode by 3.0% during the 4th quarter. Strategic Global Advisors LLC now owns 20,744 shares of the healthcare company’s stock worth $346,000 after acquiring an additional 604 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of InMode by 6.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 12,586 shares of the healthcare company’s stock worth $210,000 after acquiring an additional 721 shares during the period. Covestor Ltd lifted its holdings in shares of InMode by 13.9% during the 4th quarter. Covestor Ltd now owns 5,936 shares of the healthcare company’s stock worth $99,000 after acquiring an additional 723 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of InMode by 26.2% during the 4th quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company’s stock worth $93,000 after acquiring an additional 1,154 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of InMode by 1.5% during the 4th quarter. Invesco Ltd. now owns 97,475 shares of the healthcare company’s stock worth $1,628,000 after acquiring an additional 1,444 shares during the period. Institutional investors own 68.04% of the company’s stock.

InMode Stock Performance

Shares of NASDAQ INMD opened at $14.26 on Thursday. InMode Ltd. has a 52-week low of $13.14 and a 52-week high of $19.85. The firm has a 50 day moving average price of $14.41 and a two-hundred day moving average price of $16.16. The stock has a market cap of $901.37 million, a P/E ratio of 6.12 and a beta of 1.95.

InMode (NASDAQ:INMD) last posted its quarterly earnings data on Monday, April 28th. The healthcare company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.14). InMode had a return on equity of 17.17% and a net margin of 44.79%. The firm had revenue of $77.87 million for the quarter, compared to analyst estimates of $82.21 million. During the same quarter last year, the company earned $0.32 earnings per share. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. 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 analysts recently issued reports on the stock. Baird R W cut shares of InMode from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Monday, April 28th. Canaccord Genuity Group reiterated a “hold” rating and set a $15.00 price objective on shares of InMode in a research report on Friday, July 11th. UBS Group lowered their price objective on shares of InMode from $19.00 to $16.25 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Finally, Robert W. Baird cut shares of InMode from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $22.00 to $16.00 in a research report on Monday, April 28th. Seven 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.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.54.

InMode Company 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.