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

Wasatch Advisors LP grew its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 46.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 327,046 shares of the healthcare company’s stock after acquiring an additional 103,946 shares during the quarter. Wasatch Advisors LP’s holdings in InMode were worth $7,067,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Principal Securities Inc. purchased a new stake in shares of InMode during the 4th quarter valued at about $32,000. Sunbelt Securities Inc. purchased a new stake in shares of InMode during the 3rd quarter valued at about $47,000. Trust Co. of Vermont raised its position in shares of InMode by 32.8% during the 4th quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock valued at $48,000 after buying an additional 536 shares in the last quarter. Newbridge Financial Services Group Inc. raised its position in shares of InMode by 69.2% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,200 shares of the healthcare company’s stock valued at $49,000 after buying an additional 900 shares in the last quarter. Finally, CWM LLC raised its position in shares of InMode by 38.3% during the 4th quarter. CWM LLC now owns 2,454 shares of the healthcare company’s stock valued at $55,000 after buying an additional 680 shares in the last quarter. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on INMD shares. Barclays reduced their price objective on shares of InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Needham & Company LLC reissued 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 stock. According to data from MarketBeat.com, InMode has a consensus rating of “Hold” and a consensus price target of $32.80.

InMode Price Performance

INMD stock traded down $0.46 during mid-day trading on Tuesday, reaching $17.41. The company had a trading volume of 1,196,277 shares, compared to its average volume of 1,452,069. The company has a market capitalization of $1.46 billion, a PE ratio of 8.25 and a beta of 2.18. The firm has a 50 day moving average of $18.23 and a 200 day moving average of $20.46. InMode Ltd. has a 12 month low of $16.72 and a 12 month high of $48.25.

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

InMode 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.