Means Investment CO. Inc. Purchases Shares of 15,638 InMode Ltd. (NASDAQ:INMD)

Means Investment CO. Inc. purchased a new stake in InMode Ltd. (NASDAQ:INMD) during the second quarter, according to its most recent filing with the SEC. The fund purchased 15,638 shares of the healthcare company’s stock, valued at approximately $285,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of INMD. Principal Securities Inc. purchased a new position in shares of InMode in the 4th quarter worth $32,000. Headlands Technologies LLC grew its stake in shares of InMode by 118.2% in the 1st quarter. Headlands Technologies LLC now owns 1,916 shares of the healthcare company’s stock worth $41,000 after buying an additional 1,038 shares in the last quarter. Trust Co. of Vermont grew its stake in shares of InMode by 32.8% in the 4th quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock worth $48,000 after buying an additional 536 shares in the last quarter. Newbridge Financial Services Group Inc. grew its stake in shares of InMode by 69.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,200 shares of the healthcare company’s stock worth $49,000 after buying an additional 900 shares in the last quarter. Finally, CWM LLC grew its stake in shares of InMode by 38.3% in the 4th quarter. CWM LLC now owns 2,454 shares of the healthcare company’s stock worth $55,000 after buying an additional 680 shares in the last quarter. 68.04% of the stock is currently owned by institutional investors.

InMode Price Performance

InMode stock opened at $16.04 on Tuesday. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 7.60 and a beta of 2.18. InMode Ltd. has a 1 year low of $15.62 and a 1 year high of $40.40. The firm has a 50-day moving average of $17.46 and a two-hundred day moving average of $19.22.

InMode (NASDAQ:INMD) last released its quarterly earnings data on Thursday, August 1st. The healthcare company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.04). The company had revenue of $102.60 million during the quarter, compared to analysts’ expectations of $104.81 million. InMode had a net margin of 35.81% and a return on equity of 20.83%. InMode’s quarterly revenue was down 24.6% on a year-over-year basis. During the same period last year, the firm earned $0.65 earnings per share. Research analysts expect that InMode Ltd. will post 1.35 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Canaccord Genuity Group dropped their price objective on shares of InMode from $21.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Jefferies Financial Group cut shares of InMode from a “buy” rating to a “hold” rating and dropped their price target for the stock from $21.00 to $19.00 in a research note on Tuesday, July 23rd. Barclays dropped their price target on shares of InMode from $33.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research note on Thursday, July 11th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, InMode presently has an average rating of “Hold” and a consensus price target of $22.40.

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.