Crestline Management LP Makes New $559,000 Investment in InMode Ltd. (NASDAQ:INMD)

Crestline Management LP bought a new stake in InMode Ltd. (NASDAQ:INMD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 33,499 shares of the healthcare company’s stock, valued at approximately $559,000.

Several other institutional investors also recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new stake in shares of InMode in the fourth quarter valued at about $87,000. Farther Finance Advisors LLC boosted its stake in shares of InMode by 26.2% during the 4th quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company’s stock worth $93,000 after acquiring an additional 1,154 shares in the last quarter. Covestor Ltd grew its holdings in shares of InMode by 13.9% in the 4th quarter. Covestor Ltd now owns 5,936 shares of the healthcare company’s stock worth $99,000 after acquiring an additional 723 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new position in InMode in the 4th quarter valued at approximately $114,000. Finally, Quarry LP raised its holdings in InMode by 100.0% during the fourth quarter. Quarry LP now owns 7,561 shares of the healthcare company’s stock worth $126,000 after purchasing an additional 3,780 shares during the last quarter. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

InMode Stock Performance

Shares of INMD opened at $14.46 on Friday. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 6.15 and a beta of 2.02. InMode Ltd. has a 1 year low of $13.68 and a 1 year high of $19.85. The company’s 50 day simple moving average is $16.43 and its 200 day simple moving average is $17.44.

InMode (NASDAQ:INMD) last posted its quarterly earnings data on Monday, April 28th. The healthcare company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.14). InMode had a return on equity of 18.25% and a net margin of 45.91%. The business had revenue of $77.87 million for the quarter, compared to analyst estimates of $82.21 million. During the same quarter last year, the business earned $0.32 EPS. InMode’s revenue for the quarter was down 3.0% compared to the same quarter last year. Equities analysts expect that InMode Ltd. will post 1.75 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. UBS Group dropped their price target on InMode from $19.00 to $16.25 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Barclays cut their target price on shares of InMode from $29.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Monday, April 28th. Robert W. Baird downgraded InMode from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $22.00 to $16.00 in a research report on Monday, April 28th. Finally, Baird R W cut InMode from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $18.54.

About InMode

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.