Envestnet Asset Management Inc. Increases Stock Holdings in InMode Ltd. $INMD

Envestnet Asset Management Inc. increased its position in InMode Ltd. (NASDAQ:INMD) by 124.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,008 shares of the healthcare company’s stock after acquiring an additional 23,837 shares during the quarter. Envestnet Asset Management Inc. owned about 0.07% of InMode worth $621,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of INMD. Cerity Partners LLC bought a new position in InMode in the 1st quarter valued at $201,000. CWM LLC raised its position in shares of InMode by 106.4% in the first quarter. CWM LLC now owns 2,369 shares of the healthcare company’s stock worth $42,000 after buying an additional 1,221 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of InMode in the first quarter worth $1,289,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in InMode during the first quarter valued at $906,000. Finally, LPL Financial LLC grew its position in InMode by 109.7% during the first quarter. LPL Financial LLC now owns 107,672 shares of the healthcare company’s stock worth $1,910,000 after buying an additional 56,337 shares in the last quarter. Institutional investors own 68.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on INMD shares. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a report on Friday, October 10th. UBS Group lowered their target price on shares of InMode from $16.25 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of InMode in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of InMode from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Barclays dropped their price objective on shares of InMode from $24.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, InMode currently has an average rating of “Hold” and an average price target of $16.80.

InMode Stock Down 1.7%

InMode stock opened at $13.82 on Tuesday. The firm has a fifty day simple moving average of $14.91 and a two-hundred day simple moving average of $14.61. InMode Ltd. has a twelve month low of $13.14 and a twelve month high of $19.83. The company has a market capitalization of $873.56 million, a PE ratio of 6.40 and a beta of 2.11.

InMode (NASDAQ:INMD) last announced its quarterly earnings data on Wednesday, November 5th. The healthcare company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. InMode had a return on equity of 14.50% and a net margin of 41.04%.The firm had revenue of $93.17 million for the quarter, compared to analysts’ expectations of $88.05 million. During the same period last year, the firm earned $0.70 earnings per share. The company’s revenue for the quarter was down 28.5% compared to the same quarter last year. As a group, equities analysts expect that InMode Ltd. will post 1.75 earnings per share for the current fiscal year.

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.