Systematic Financial Management LP Boosts Stake in InMode Ltd. (NASDAQ:INMD)

Systematic Financial Management LP increased its stake in InMode Ltd. (NASDAQ:INMD) by 34.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 866,619 shares of the healthcare company’s stock after acquiring an additional 222,532 shares during the period. Systematic Financial Management LP’s holdings in InMode were worth $15,807,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Asset Dedication LLC purchased a new position in shares of InMode in the 2nd quarter worth about $33,000. Headlands Technologies LLC boosted its stake in InMode by 118.2% in the first 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 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. Newbridge Financial Services Group Inc. raised its stake in shares of InMode by 69.2% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,200 shares of the healthcare company’s stock worth $49,000 after acquiring an additional 900 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of InMode in the 2nd quarter worth approximately $42,000. Institutional investors own 68.04% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on INMD shares. Jefferies Financial Group downgraded shares of InMode from a “buy” rating to a “hold” rating and lowered their price target for the stock from $21.00 to $19.00 in a research note on Tuesday, July 23rd. Barclays lowered their target price on InMode from $33.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Canaccord Genuity Group reduced their price target on InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Thursday, July 11th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, InMode currently has an average rating of “Hold” and an average target price of $22.40.

InMode Price Performance

INMD stock opened at $17.43 on Friday. InMode Ltd. has a 1 year low of $15.39 and a 1 year high of $33.62. The firm has a 50-day moving average of $16.64 and a 200 day moving average of $17.94. The company has a market cap of $1.46 billion, a P/E ratio of 8.26 and a beta of 2.17.

InMode (NASDAQ:INMD) last announced its earnings results 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 firm had revenue of $102.60 million during the quarter, compared to the consensus estimate of $104.81 million. InMode had a return on equity of 21.00% and a net margin of 35.81%. The firm’s revenue was down 24.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 EPS. On average, equities research analysts expect that InMode Ltd. will post 1.63 earnings per share for the current fiscal year.

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.