Invesco Ltd. Decreases Stock Holdings in InMode Ltd. $INMD

Invesco Ltd. reduced its position in shares of InMode Ltd. (NASDAQ:INMD) by 16.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,584 shares of the healthcare company’s stock after selling 15,891 shares during the period. Invesco Ltd. owned about 0.12% of InMode worth $1,447,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of INMD. CWM LLC lifted its position in shares of InMode by 106.4% during the 1st quarter. CWM LLC now owns 2,369 shares of the healthcare company’s stock worth $42,000 after purchasing an additional 1,221 shares during the last quarter. Orion Capital Management LLC purchased a new stake in shares of InMode during the 4th quarter worth $65,000. Lazard Asset Management LLC lifted 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 worth $105,000 after purchasing an additional 6,190 shares during the last quarter. Bridgefront Capital LLC purchased a new stake in shares of InMode during the 4th quarter worth $178,000. Finally, Exencial Wealth Advisors LLC purchased a new stake in shares of InMode during the 1st quarter worth $182,000. 68.04% of the stock is owned by hedge funds and other institutional investors.

InMode Price Performance

NASDAQ INMD opened at $14.94 on Tuesday. InMode Ltd. has a 1 year low of $13.14 and a 1 year high of $19.85. The company has a market capitalization of $944.36 million, a PE ratio of 6.05 and a beta of 2.00. The company has a fifty day moving average of $14.47 and a two-hundred day moving average of $15.49.

InMode (NASDAQ:INMD) last posted its quarterly earnings data on Wednesday, July 30th. The healthcare company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $95.60 million during the quarter, compared to analyst estimates of $98.45 million. InMode had a net margin of 44.50% and a return on equity of 18.38%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 earnings per share. On average, research analysts expect that InMode Ltd. will post 1.75 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on INMD shares. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research report on Wednesday, July 30th. Canaccord Genuity Group restated a “hold” rating and issued a $15.00 price objective on shares of InMode in a research note on Friday, July 11th. Finally, Barclays decreased their price objective on shares of InMode from $24.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.04.

InMode 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.