UBS Group AG Buys 89,591 Shares of InMode Ltd. $INMD

UBS Group AG grew its stake in shares of InMode Ltd. (NASDAQ:INMD) by 41.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 308,222 shares of the healthcare company’s stock after purchasing an additional 89,591 shares during the period. UBS Group AG owned about 0.49% of InMode worth $4,528,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INMD. Cooper Creek Partners Management LLC bought a new stake in InMode during the 3rd quarter worth approximately $14,980,000. Ancient Art L.P. bought a new position in shares of InMode in the third quarter valued at approximately $14,254,000. Goldman Sachs Group Inc. grew its holdings 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 acquiring an additional 788,157 shares in the last quarter. Doma Perpetual Capital Management LLC grew its holdings in shares of InMode by 26.8% in the third quarter. Doma Perpetual Capital Management LLC now owns 2,838,431 shares of the healthcare company’s stock valued at $42,293,000 after acquiring an additional 599,108 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of InMode by 142.1% in the second quarter. Bank of America Corp DE now owns 862,209 shares of the healthcare company’s stock valued at $12,450,000 after acquiring an additional 506,134 shares in the last quarter. 68.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on INMD shares. Barclays set a $19.00 target price on InMode and gave the company an “overweight” rating in a report on Thursday, May 7th. BTIG Research reaffirmed a “neutral” rating on shares of InMode in a report on Monday, January 26th. Finally, Robert W. Baird reduced their target price on InMode from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.00.

InMode Stock Down 0.7%

INMD stock opened at $13.74 on Friday. The firm has a market cap of $870.57 million, a PE ratio of 10.10 and a beta of 1.97. The business has a 50 day moving average of $13.90 and a 200-day moving average of $14.24. InMode Ltd. has a 12-month low of $12.72 and a 12-month high of $16.74.

InMode (NASDAQ:INMD) last announced its quarterly earnings data on Wednesday, May 6th. The healthcare company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.05). InMode had a net margin of 23.27% and a return on equity of 13.47%. The firm had revenue of $82.02 million for the quarter, compared to the consensus estimate of $79.84 million. During the same period last year, the company posted $0.31 earnings per share. InMode’s revenue for the quarter was up 5.3% on a year-over-year basis.

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.