InMode Ltd. (NASDAQ:INMD) Stock Position Increased by Inspire Advisors LLC

Inspire Advisors LLC lifted its position in InMode Ltd. (NASDAQ:INMD) by 45.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,192 shares of the healthcare company’s stock after buying an additional 9,759 shares during the period. Inspire Advisors LLC’s holdings in InMode were worth $529,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of INMD. Doma Perpetual Capital Management LLC lifted its holdings in shares of InMode by 210.7% during the second quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company’s stock valued at $36,685,000 after purchasing an additional 1,363,841 shares during the last quarter. Swedbank AB purchased a new stake in shares of InMode during the first quarter valued at $17,634,000. Federated Hermes Inc. lifted its holdings in shares of InMode by 191.9% during the second quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock valued at $20,520,000 after purchasing an additional 739,629 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of InMode by 63.6% during the second quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company’s stock valued at $20,502,000 after purchasing an additional 437,122 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of InMode during the second quarter valued at $4,104,000. Institutional investors own 68.04% of the company’s stock.

InMode Price Performance

Shares of INMD stock opened at $17.78 on Friday. InMode Ltd. has a fifty-two week low of $14.87 and a fifty-two week high of $26.80. The stock’s 50-day moving average is $16.28 and its two-hundred day moving average is $17.44. The firm has a market cap of $1.49 billion, a P/E ratio of 8.43 and a beta of 2.17.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on INMD shares. Barclays reduced their target price on InMode from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a report on Thursday, October 10th. Canaccord Genuity Group reduced their target price on InMode from $21.00 to $16.00 and set a “hold” rating for the company in a report on Friday, July 12th. BTIG Research initiated coverage on InMode in a research note on Thursday. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Jefferies Financial Group downgraded InMode from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $21.00 to $19.00 in a research note on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, InMode presently has an average rating of “Hold” and a consensus price target of $22.60.

InMode Company 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.