Bank Hapoalim BM Reduces Stock Position in InMode Ltd. (NASDAQ:INMD)

Bank Hapoalim BM cut its holdings in InMode Ltd. (NASDAQ:INMD) by 13.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,733 shares of the healthcare company’s stock after selling 7,122 shares during the period. Bank Hapoalim BM owned 0.06% of InMode worth $809,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Nordea Investment Management AB boosted its holdings in shares of InMode by 161.1% in the first quarter. Nordea Investment Management AB now owns 361,701 shares of the healthcare company’s stock worth $7,853,000 after acquiring an additional 223,191 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in InMode during the 1st quarter valued at about $959,000. Systematic Financial Management LP increased its position in shares of InMode by 34.5% during the second quarter. Systematic Financial Management LP now owns 866,619 shares of the healthcare company’s stock valued at $15,807,000 after buying an additional 222,532 shares during the period. ARK Investment Management LLC lifted its holdings in shares of InMode by 35.0% in the second quarter. ARK Investment Management LLC now owns 124,905 shares of the healthcare company’s stock worth $2,278,000 after buying an additional 32,369 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of InMode by 129.7% in the second quarter. Hsbc Holdings PLC now owns 90,280 shares of the healthcare company’s stock valued at $1,659,000 after acquiring an additional 50,974 shares during the period. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INMD has been the topic of a number of analyst reports. BTIG Research started coverage on shares of InMode in a report on Thursday, October 17th. They set a “buy” rating and a $25.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Thursday. Jefferies Financial Group cut InMode from a “buy” rating to a “hold” rating and reduced their target price for the stock from $21.00 to $19.00 in a research report on Tuesday, July 23rd. Barclays lowered their price target on InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Finally, Canaccord Genuity Group cut their price objective on InMode from $21.00 to $16.00 and set a “hold” rating for the company in a report on Friday, July 12th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, InMode presently has a consensus rating of “Hold” and an average price target of $22.60.

InMode Price Performance

INMD stock traded down $0.09 during mid-day trading on Thursday, hitting $17.78. 39,847 shares of the stock were exchanged, compared to its average volume of 1,341,832. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 8.47 and a beta of 2.17. The business has a fifty day moving average price of $16.60 and a 200 day moving average price of $17.35. InMode Ltd. has a 12 month low of $14.87 and a 12 month high of $26.80.

InMode (NASDAQ:INMD) last issued its earnings results on Thursday, August 1st. The healthcare company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.04). The firm had revenue of $102.60 million during the quarter, compared to analysts’ expectations of $104.81 million. InMode had a return on equity of 21.00% and a net margin of 35.81%. The firm’s quarterly revenue was down 24.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 EPS. As a group, equities analysts forecast that InMode Ltd. will post 1.58 EPS for the current fiscal 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.