Wasatch Advisors LP Lowers Stock Holdings in InMode Ltd. (NASDAQ:INMD)

Wasatch Advisors LP lowered its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 3.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 223,100 shares of the healthcare company’s stock after selling 9,000 shares during the period. Wasatch Advisors LP’s holdings in InMode were worth $4,962,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in INMD. Barclays PLC lifted its position in shares of InMode by 34.7% in the third quarter. Barclays PLC now owns 69,315 shares of the healthcare company’s stock valued at $2,111,000 after acquiring an additional 17,865 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of InMode by 1.5% in the third quarter. Janney Montgomery Scott LLC now owns 40,278 shares of the healthcare company’s stock valued at $1,227,000 after acquiring an additional 601 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of InMode by 14.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 203,590 shares of the healthcare company’s stock valued at $6,201,000 after acquiring an additional 25,391 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of InMode by 6.8% in the third quarter. Van ECK Associates Corp now owns 26,529 shares of the healthcare company’s stock valued at $808,000 after acquiring an additional 1,688 shares in the last quarter. Finally, UBS Group AG lifted its position in InMode by 3.9% during the third quarter. UBS Group AG now owns 753,026 shares of the healthcare company’s stock worth $22,937,000 after buying an additional 28,446 shares in the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Stock Up 1.0 %

INMD stock opened at $18.82 on Wednesday. The business has a fifty day moving average of $18.36 and a two-hundred day moving average of $20.97. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 8.92 and a beta of 2.20. InMode Ltd. has a 52-week low of $16.72 and a 52-week high of $48.25.

InMode (NASDAQ:INMD) last posted its earnings results on Thursday, May 2nd. The healthcare company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.09. The company had revenue of $80.28 million during the quarter, compared to analysts’ expectations of $80.10 million. InMode had a return on equity of 26.15% and a net margin of 38.84%. As a group, sell-side analysts anticipate that InMode Ltd. will post 1.8 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on INMD. UBS Group lifted their price objective on InMode from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Barclays reduced their price objective on InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $32.80.

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.