Value Star Asset Management Hong Kong Ltd Acquires Shares of 201,700 InMode Ltd. (NASDAQ:INMD)

Value Star Asset Management Hong Kong Ltd acquired a new stake in shares of InMode Ltd. (NASDAQ:INMD) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 201,700 shares of the healthcare company’s stock, valued at approximately $4,485,000. InMode comprises 1.5% of Value Star Asset Management Hong Kong Ltd’s holdings, making the stock its 10th largest position. Value Star Asset Management Hong Kong Ltd owned about 0.24% of InMode at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Exchange Traded Concepts LLC acquired a new stake in InMode in the 3rd quarter worth about $27,000. Carmel Capital Partners LLC purchased a new stake in shares of InMode in the third quarter valued at about $36,000. Sunbelt Securities Inc. acquired a new stake in InMode during the third quarter worth about $47,000. CWM LLC raised its stake in shares of InMode by 38.3% in the 4th quarter. CWM LLC now owns 2,454 shares of the healthcare company’s stock valued at $55,000 after acquiring an additional 680 shares during the period. Finally, NBC Securities Inc. purchased a new position in InMode during the 3rd quarter valued at about $79,000. 68.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INMD has been the subject of several recent research reports. Barclays decreased their price target on shares of InMode from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Needham & Company LLC restated a “hold” rating on shares of InMode in a research note on Tuesday, April 9th. Finally, UBS Group boosted their target price on InMode from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $32.80.

InMode Stock Up 0.3 %

INMD stock traded up $0.05 during trading on Wednesday, hitting $17.24. The company had a trading volume of 1,564,600 shares, compared to its average volume of 1,554,737. InMode Ltd. has a 1-year low of $16.82 and a 1-year high of $48.25. The firm has a 50-day moving average price of $20.13 and a 200-day moving average price of $21.43. The firm has a market cap of $1.45 billion, a PE ratio of 7.42 and a beta of 2.16.

InMode (NASDAQ:INMD) last released its earnings results on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. InMode had a return on equity of 29.80% and a net margin of 40.22%. The business had revenue of $126.80 million for the quarter, compared to analyst estimates of $124.77 million. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. Sell-side analysts anticipate that InMode Ltd. will post 2.04 earnings per share 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.