InMode Ltd. (NASDAQ:INMD) Shares Purchased by EMC Capital Management

EMC Capital Management increased its stake in shares of InMode Ltd. (NASDAQ:INMD) by 219.4% in the third quarter, HoldingsChannel.com reports. The firm owned 13,319 shares of the healthcare company’s stock after buying an additional 9,149 shares during the period. EMC Capital Management’s holdings in InMode were worth $226,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Asset Dedication LLC purchased a new position in shares of InMode during the second quarter worth $33,000. Headlands Technologies LLC boosted its holdings in InMode by 118.2% during the 1st 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 period. nVerses Capital LLC purchased a new position in InMode during the 2nd quarter valued at about $42,000. Nisa Investment Advisors LLC grew its position in InMode by 314.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,550 shares of the healthcare company’s stock valued at $60,000 after acquiring an additional 2,694 shares in the last quarter. Finally, Covestor Ltd increased its stake in InMode by 28.6% during the first quarter. Covestor Ltd now owns 6,957 shares of the healthcare company’s stock worth $150,000 after purchasing an additional 1,549 shares during the period. Institutional investors and hedge funds own 68.04% of the company’s stock.

InMode Price Performance

NASDAQ:INMD opened at $17.26 on Friday. InMode Ltd. has a 12 month low of $14.87 and a 12 month high of $26.80. The firm has a market capitalization of $1.45 billion, a PE ratio of 9.33 and a beta of 2.17. The business’s fifty day moving average price is $16.65 and its 200 day moving average price is $17.34.

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). The business had revenue of $102.60 million for the quarter, compared to analyst estimates of $104.81 million. InMode had a return on equity of 21.04% and a net margin of 36.26%. InMode’s revenue was down 24.6% on a year-over-year basis. During the same period last year, the business posted $0.65 EPS. As a group, equities analysts anticipate that InMode Ltd. will post 1.58 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on INMD shares. Jefferies Financial Group cut 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. Needham & Company LLC restated a “hold” rating on shares of InMode in a research note on Thursday. BTIG Research started coverage on InMode in a research note on Thursday, October 17th. They issued a “buy” rating and a $25.00 price objective on the stock. Barclays decreased 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. Finally, Canaccord Genuity Group cut their price target on InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $22.60.

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.