Inspire Advisors LLC Grows Position in InMode Ltd. $INMD

Inspire Advisors LLC raised its position in shares of InMode Ltd. (NASDAQ:INMD) by 10.1% during the 2nd quarter, Holdings Channel reports. The fund owned 66,150 shares of the healthcare company’s stock after purchasing an additional 6,076 shares during the period. Inspire Advisors LLC’s holdings in InMode were worth $955,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INMD. Cerity Partners LLC bought a new stake in InMode in the first quarter worth $201,000. New York State Common Retirement Fund grew its stake in shares of InMode by 57.3% in the 1st quarter. New York State Common Retirement Fund now owns 38,453 shares of the healthcare company’s stock worth $682,000 after buying an additional 14,000 shares in the last quarter. CWM LLC grew its stake in shares of InMode by 106.4% in the 1st quarter. CWM LLC now owns 2,369 shares of the healthcare company’s stock worth $42,000 after buying an additional 1,221 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of InMode in the 1st quarter worth about $1,289,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of InMode during the 1st quarter valued at about $906,000. 68.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

INMD has been the subject of several recent research reports. Canaccord Genuity Group lifted their price target on InMode from $14.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. UBS Group lowered their price objective on InMode from $16.25 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Wall Street Zen downgraded InMode from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research upgraded InMode from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Finally, Barclays dropped their price objective on shares of InMode from $24.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, InMode currently has a consensus rating of “Hold” and a consensus target price of $16.80.

InMode Stock Performance

INMD opened at $14.15 on Wednesday. The stock has a market cap of $894.42 million, a price-to-earnings ratio of 6.55 and a beta of 2.11. The stock’s 50 day moving average price is $15.00 and its 200-day moving average price is $14.62. InMode Ltd. has a one year low of $13.14 and a one year high of $19.83.

InMode (NASDAQ:INMD) last posted its quarterly earnings data on Wednesday, November 5th. The healthcare company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. InMode had a return on equity of 14.50% and a net margin of 41.04%.The company had revenue of $93.17 million during the quarter, compared to analysts’ expectations of $88.05 million. During the same quarter in the previous year, the business earned $0.70 EPS. InMode’s revenue was down 28.5% compared to the same quarter last year. As a group, analysts predict that InMode Ltd. will post 1.75 earnings per share 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.