InMode Ltd. $INMD Shares Bought by Denali Advisors LLC

Denali Advisors LLC boosted its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 10.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,851 shares of the healthcare company’s stock after purchasing an additional 3,300 shares during the period. Denali Advisors LLC owned about 0.06% of InMode worth $503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its position in InMode by 63.1% during the second quarter. Parallel Advisors LLC now owns 1,973 shares of the healthcare company’s stock valued at $28,000 after purchasing an additional 763 shares during the period. American Century Companies Inc. lifted its position in InMode by 6.1% during the first quarter. American Century Companies Inc. now owns 18,994 shares of the healthcare company’s stock valued at $337,000 after purchasing an additional 1,087 shares during the period. CWM LLC lifted its position in InMode by 106.4% during the first quarter. CWM LLC now owns 2,369 shares of the healthcare company’s stock valued at $42,000 after purchasing an additional 1,221 shares during the period. Cary Street Partners Financial LLC increased its holdings in InMode by 1.0% in the first quarter. Cary Street Partners Financial LLC now owns 133,867 shares of the healthcare company’s stock valued at $2,375,000 after buying an additional 1,315 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of InMode by 1.9% in the first quarter. Principal Financial Group Inc. now owns 101,439 shares of the healthcare company’s stock worth $1,800,000 after acquiring an additional 1,877 shares during the period. 68.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on INMD shares. Barclays decreased their price objective on shares of InMode from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Wall Street Zen upgraded shares of InMode from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Weiss Ratings reiterated a “sell (d+)” rating on shares of InMode in a research report on Wednesday, October 8th. Canaccord Genuity Group upped their price objective on shares of InMode from $14.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Friday, October 10th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $16.85.

InMode Stock Down 2.6%

INMD stock opened at $15.59 on Thursday. The stock has a market capitalization of $985.44 million, a P/E ratio of 6.31 and a beta of 2.09. The firm has a 50-day simple moving average of $14.98 and a 200-day simple moving average of $14.66. InMode Ltd. has a 52 week low of $13.14 and a 52 week high of $19.85.

InMode (NASDAQ:INMD) last released its earnings results on Wednesday, July 30th. The healthcare company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $95.60 million for the quarter, compared to analysts’ expectations of $98.45 million. InMode had a return on equity of 18.38% and a net margin of 44.50%.The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. On average, analysts expect that InMode Ltd. will post 1.75 earnings per share for the current 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.