New York State Common Retirement Fund Has $682,000 Position in InMode Ltd. (NASDAQ:INMD)

New York State Common Retirement Fund raised its stake in InMode Ltd. (NASDAQ:INMD) by 57.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,453 shares of the healthcare company’s stock after purchasing an additional 14,000 shares during the period. New York State Common Retirement Fund owned 0.06% of InMode worth $682,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Orion Capital Management LLC acquired a new position in shares of InMode in the fourth quarter valued at about $65,000. Covestor Ltd grew its stake in shares of 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 in the last quarter. Lazard Asset Management LLC grew its stake in shares of InMode by 6,128.7% in the fourth 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 in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of InMode in the fourth quarter valued at about $114,000. Finally, Quarry LP grew its stake in shares of InMode by 100.0% in the fourth quarter. Quarry LP now owns 7,561 shares of the healthcare company’s stock valued at $126,000 after acquiring an additional 3,780 shares in the last quarter. 68.04% of the stock is currently owned by institutional investors and hedge funds.

InMode Stock Up 1.3%

Shares of INMD stock opened at $14.72 on Friday. The company has a market cap of $930.45 million, a price-to-earnings ratio of 6.32 and a beta of 1.95. 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 of $14.37 and a 200-day moving average of $16.04.

InMode (NASDAQ:INMD) last announced its quarterly earnings data on Monday, April 28th. The healthcare company reported $0.31 EPS 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 company had revenue of $77.87 million for the quarter, compared to analyst estimates of $82.21 million. During the same period last year, the business earned $0.32 EPS. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. Analysts anticipate that InMode Ltd. will post 1.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on INMD. Baird R W lowered shares of InMode from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Canaccord Genuity Group reissued a “hold” rating and issued a $15.00 target price on shares of InMode in a report on Friday, July 11th. Jefferies Financial Group decreased their target price 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 lowered shares of InMode from a “buy” rating to a “neutral” rating in a report on Tuesday, April 29th. Finally, UBS Group decreased their target price on shares of InMode from $19.00 to $16.25 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.