LSV Asset Management Sells 22,800 Shares of InMode Ltd. (NASDAQ:INMD)

LSV Asset Management lowered its position in shares of InMode Ltd. (NASDAQ:INMD) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,856,971 shares of the healthcare company’s stock after selling 22,800 shares during the quarter. LSV Asset Management owned about 2.21% of InMode worth $33,871,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of INMD. Principal Securities Inc. bought a new stake in InMode during the fourth quarter valued at $32,000. Asset Dedication LLC bought a new stake in InMode during the second quarter valued at $33,000. Headlands Technologies LLC boosted its position in InMode by 118.2% during the first quarter. Headlands Technologies LLC now owns 1,916 shares of the healthcare company’s stock valued at $41,000 after acquiring an additional 1,038 shares during the last quarter. nVerses Capital LLC bought a new stake in InMode during the second quarter valued at $42,000. Finally, Trust Co. of Vermont boosted its position in InMode by 32.8% during the fourth quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock valued at $48,000 after acquiring an additional 536 shares during the last quarter. Institutional investors own 68.04% of the company’s stock.

InMode Price Performance

INMD opened at $15.52 on Tuesday. InMode Ltd. has a fifty-two week low of $15.39 and a fifty-two week high of $38.33. The firm has a market capitalization of $1.30 billion, a PE ratio of 7.36 and a beta of 2.18. The company’s 50-day moving average is $16.82 and its 200 day moving average is $18.41.

InMode (NASDAQ:INMD) last posted its earnings results on Thursday, August 1st. The healthcare company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). InMode had a return on equity of 21.00% and a net margin of 35.81%. The business had revenue of $102.60 million during the quarter, compared to analyst estimates of $104.81 million. During the same quarter in the prior year, the company earned $0.65 EPS. The company’s revenue was down 24.6% on a year-over-year basis. As a group, analysts expect that InMode Ltd. will post 1.63 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on INMD. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a report on Thursday, July 11th. Barclays dropped their price objective on shares of InMode from $33.00 to $29.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Canaccord Genuity Group dropped their price objective on shares of InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Finally, Jefferies Financial Group lowered shares of InMode from a “buy” rating to a “hold” rating and dropped their price objective for the company from $21.00 to $19.00 in a report on Tuesday, July 23rd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, InMode 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.