Eagle Global Advisors LLC Cuts Position in InMode Ltd. (NASDAQ:INMD)

Eagle Global Advisors LLC lowered its stake in shares of InMode Ltd. (NASDAQ:INMD) by 24.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,900 shares of the healthcare company’s stock after selling 10,000 shares during the quarter. Eagle Global Advisors LLC’s holdings in InMode were worth $687,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Principal Securities Inc. purchased a new stake in shares of InMode during the fourth quarter worth $32,000. Sunbelt Securities Inc. purchased a new stake in shares of InMode during the third quarter worth $47,000. CWM LLC increased its holdings in InMode by 38.3% in the fourth quarter. CWM LLC now owns 2,454 shares of the healthcare company’s stock valued at $55,000 after buying an additional 680 shares during the last quarter. NBC Securities Inc. purchased a new position in InMode in the third quarter valued at $79,000. Finally, Covestor Ltd increased its holdings in InMode by 83.2% in the third quarter. Covestor Ltd now owns 3,291 shares of the healthcare company’s stock valued at $100,000 after buying an additional 1,495 shares during the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Barclays dropped their target price on InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Needham & Company LLC reissued a “hold” rating on shares of InMode in a report on Friday, May 3rd. Finally, UBS Group increased 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $32.80.

InMode Stock Performance

NASDAQ INMD traded up $0.03 during trading hours on Friday, hitting $18.48. The company had a trading volume of 921,840 shares, compared to its average volume of 1,176,980. InMode Ltd. has a 1-year low of $16.72 and a 1-year high of $48.25. The company has a market cap of $1.55 billion, a PE ratio of 8.76 and a beta of 2.20. The business has a 50 day moving average of $18.88 and a 200-day moving average of $21.19.

InMode (NASDAQ:INMD) last released its quarterly earnings data on Thursday, May 2nd. The healthcare company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.09. InMode had a net margin of 38.84% and a return on equity of 26.15%. The company had revenue of $80.28 million during the quarter, compared to the consensus estimate of $80.10 million. Sell-side analysts expect that InMode Ltd. will post 1.8 earnings per share for the current fiscal year.

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.