InMode Ltd. $INMD Shares Sold by LSV Asset Management

LSV Asset Management decreased its holdings in InMode Ltd. (NASDAQ:INMD) by 91.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 174,509 shares of the healthcare company’s stock after selling 1,764,558 shares during the quarter. LSV Asset Management’s holdings in InMode were worth $2,600,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in shares of InMode by 234.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company’s stock valued at $19,935,000 after buying an additional 788,157 shares in the last quarter. Systematic Financial Management LP grew its stake in InMode by 3.9% in the 2nd quarter. Systematic Financial Management LP now owns 1,090,971 shares of the healthcare company’s stock valued at $15,754,000 after acquiring an additional 41,363 shares during the period. Bank of America Corp DE increased its holdings in InMode by 142.1% in the 2nd quarter. Bank of America Corp DE now owns 862,209 shares of the healthcare company’s stock worth $12,450,000 after acquiring an additional 506,134 shares in the last quarter. Edgestream Partners L.P. acquired a new position in InMode during the second quarter worth $8,294,000. Finally, Marshall Wace LLP lifted its holdings in InMode by 270.7% during the second quarter. Marshall Wace LLP now owns 555,573 shares of the healthcare company’s stock valued at $8,022,000 after purchasing an additional 405,707 shares in the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Price Performance

INMD stock opened at $14.30 on Tuesday. InMode Ltd. has a 1 year low of $13.14 and a 1 year high of $19.78. The firm has a market capitalization of $906.05 million, a PE ratio of 9.93 and a beta of 2.19. The business has a 50 day simple moving average of $14.66 and a 200-day simple moving average of $14.70.

InMode (NASDAQ:INMD) last released its quarterly earnings data on Tuesday, February 10th. The healthcare company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. InMode had a return on equity of 14.52% and a net margin of 25.33%.The company had revenue of $103.85 million for the quarter, compared to analyst estimates of $104.64 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities research analysts expect that InMode Ltd. will post 1.75 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on INMD shares. Robert W. Baird set a $17.00 price target on shares of InMode in a research report on Wednesday, February 11th. BTIG Research reissued a “neutral” rating on shares of InMode in a report on Monday, January 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of InMode in a research note on Thursday, January 22nd. UBS Group dropped their price target on InMode from $16.25 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Finally, Canaccord Genuity Group set a $15.00 price objective on InMode and gave the company a “hold” rating in a report on Wednesday, December 17th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $16.80.

InMode Profile

InMode Ltd. (NASDAQ:INMD) is a medical technology company headquartered in Israel that develops, manufactures and markets devices for aesthetic and medical treatments. The company specializes in energy-based technologies, primarily radiofrequency platforms, designed to deliver minimally-invasive and non-invasive procedures.

InMode’s product portfolio encompasses a range of modular systems targeting body contouring, facial rejuvenation, skin tightening and other cosmetic applications. Key offerings include devices built on proprietary radiofrequency and radiofrequency-assisted lipolysis, enabling physicians to perform treatments such as tissue coagulation, skin resurfacing and subdermal volumizing with reduced downtime.

The company distributes its technologies through direct sales operations and distribution partners, serving medical professionals across multiple geographies including North America, Europe, Asia Pacific and Latin America.