InMode Ltd. (NASDAQ:INMD) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in shares of InMode Ltd. (NASDAQ:INMD) by 1.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,439 shares of the healthcare company’s stock after purchasing an additional 1,877 shares during the period. Principal Financial Group Inc. owned 0.15% of InMode worth $1,800,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. purchased a new stake in InMode in the fourth quarter valued at approximately $1,332,000. Allspring Global Investments Holdings LLC purchased a new stake in InMode in the first quarter valued at approximately $192,000. Handelsbanken Fonder AB raised its position in InMode by 34.3% in the first quarter. Handelsbanken Fonder AB now owns 36,400 shares of the healthcare company’s stock valued at $646,000 after purchasing an additional 9,300 shares during the period. Bessemer Group Inc. purchased a new stake in InMode in the first quarter valued at approximately $617,000. Finally, GAMMA Investing LLC raised its position in InMode by 13,923.8% in the first quarter. GAMMA Investing LLC now owns 2,945 shares of the healthcare company’s stock valued at $520,000 after purchasing an additional 2,924 shares during the period. 68.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INMD has been the topic of a number of research analyst reports. Baird R W lowered InMode from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. BTIG Research lowered InMode from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 29th. UBS Group cut their price objective on InMode from $19.00 to $16.25 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Jefferies Financial Group cut their price objective on InMode from $16.00 to $15.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Finally, Robert W. Baird lowered InMode from an “outperform” rating to a “neutral” rating and cut 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. According to data from MarketBeat.com, InMode presently has a consensus rating of “Hold” and a consensus price target of $18.54.

InMode Trading Down 1.4%

InMode stock opened at $13.90 on Friday. InMode Ltd. has a twelve month low of $13.14 and a twelve month high of $19.85. The stock’s fifty day simple moving average is $14.39 and its 200-day simple moving average is $16.12. The firm has a market capitalization of $878.62 million, a P/E ratio of 5.97 and a beta of 1.95.

InMode (NASDAQ:INMD) last posted its earnings results on Monday, April 28th. The healthcare company reported $0.31 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 net margin of 44.79% and a return on equity of 17.17%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the company earned $0.32 EPS. Sell-side 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.