KLP Kapitalforvaltning AS Acquires 6,300 Shares of InMode Ltd. $INMD

KLP Kapitalforvaltning AS boosted its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 14.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,900 shares of the healthcare company’s stock after purchasing an additional 6,300 shares during the quarter. KLP Kapitalforvaltning AS owned about 0.08% of InMode worth $735,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in INMD. GAMMA Investing LLC boosted its stake in InMode by 13,923.8% during the 1st 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. CWA Asset Management Group LLC grew its position in InMode by 24.9% during the first quarter. CWA Asset Management Group LLC now owns 27,434 shares of the healthcare company’s stock worth $487,000 after buying an additional 5,473 shares in the last quarter. North Growth Management Ltd. grew its position in InMode by 12.8% during the first quarter. North Growth Management Ltd. now owns 659,000 shares of the healthcare company’s stock worth $11,683,000 after buying an additional 75,000 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in InMode during the first quarter worth about $204,000. Finally, Kirr Marbach & Co. LLC IN grew its position in InMode by 9.4% during the first quarter. Kirr Marbach & Co. LLC IN now owns 88,625 shares of the healthcare company’s stock worth $1,572,000 after buying an additional 7,601 shares in the last quarter. Institutional investors own 68.04% of the company’s stock.

InMode Stock Down 0.3%

Shares of INMD opened at $15.22 on Friday. The stock has a market cap of $962.06 million, a price-to-earnings ratio of 6.16 and a beta of 2.09. InMode Ltd. has a 12 month low of $13.14 and a 12 month high of $19.85. The company has a 50-day moving average price of $14.86 and a two-hundred day moving average price of $14.70.

InMode (NASDAQ:INMD) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $98.45 million. InMode had a return on equity of 18.38% and a net margin of 44.50%.The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 EPS. Equities research analysts expect that InMode Ltd. will post 1.75 EPS for the current fiscal year.

Analysts Set New Price Targets

INMD has been the topic of a number of recent research reports. Barclays decreased their target price on InMode from $24.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. Zacks Research raised InMode from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of InMode in a research report on Wednesday, October 8th. Canaccord Genuity Group lifted their target price on InMode from $14.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of InMode in a research report on Friday, October 10th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $16.85.

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.