PharVision Advisers LLC Invests $535,000 in InMode Ltd. (NASDAQ:INMD)

PharVision Advisers LLC bought a new position in shares of InMode Ltd. (NASDAQ:INMD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 32,019 shares of the healthcare company’s stock, valued at approximately $535,000.

Other institutional investors also recently bought and sold shares of the company. River Road Asset Management LLC acquired a new position in InMode in the 4th quarter worth about $8,572,000. Norges Bank purchased a new stake in shares of InMode during the fourth quarter worth about $2,943,000. Quantedge Capital Pte Ltd raised its position in shares of InMode by 644.8% during the 4th quarter. Quantedge Capital Pte Ltd now owns 171,300 shares of the healthcare company’s stock worth $2,861,000 after purchasing an additional 148,300 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in InMode in the 4th quarter worth about $2,246,000. Finally, Cary Street Partners Financial LLC purchased a new stake in InMode during the 4th quarter worth approximately $2,214,000. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Canaccord Genuity Group dropped their price target on InMode from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, April 29th. Robert W. Baird lowered shares of InMode from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $22.00 to $16.00 in a research report on Monday, April 28th. Jefferies Financial Group decreased their target price on shares of InMode from $16.00 to $15.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Baird R W lowered InMode from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. Finally, Needham & Company LLC reissued a “hold” rating on shares of InMode in a research note on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, InMode presently has an average rating of “Hold” and an average target price of $18.54.

InMode Price Performance

Shares of INMD opened at $14.76 on Wednesday. The firm has a 50-day simple moving average of $15.85 and a two-hundred day simple moving average of $17.30. The stock has a market cap of $1.03 billion, a PE ratio of 6.28 and a beta of 2.02. InMode Ltd. has a 1-year low of $13.68 and a 1-year high of $19.85.

InMode (NASDAQ:INMD) last announced its earnings results on Monday, April 28th. The healthcare company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.14). InMode had a net margin of 45.91% and a return on equity of 18.25%. The firm had revenue of $77.87 million during the quarter, compared to analysts’ expectations of $82.21 million. During the same period in the previous year, the firm earned $0.32 EPS. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, sell-side analysts expect that InMode Ltd. will post 1.75 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.