InMode Ltd. (NASDAQ:INMD) Stake Decreased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. lessened its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 72.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,360 shares of the healthcare company’s stock after selling 173,351 shares during the period. Balyasny Asset Management L.P.’s holdings in InMode were worth $1,075,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in shares of InMode during the fourth quarter valued at approximately $87,000. Farther Finance Advisors LLC raised its holdings in shares of InMode by 26.2% during the fourth quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company’s stock valued at $93,000 after buying an additional 1,154 shares during the last quarter. Covestor Ltd raised its holdings in shares of InMode by 13.9% during the fourth quarter. Covestor Ltd now owns 5,936 shares of the healthcare company’s stock valued at $99,000 after buying an additional 723 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of InMode during the fourth quarter valued at approximately $114,000. Finally, Quarry LP raised its holdings in shares of InMode by 100.0% during the fourth quarter. Quarry LP now owns 7,561 shares of the healthcare company’s stock valued at $126,000 after buying an additional 3,780 shares during the last quarter. Institutional investors own 68.04% of the company’s stock.

InMode Stock Down 0.5%

INMD opened at $14.92 on Wednesday. The firm has a market cap of $1.04 billion, a PE ratio of 6.35 and a beta of 2.02. The business has a fifty day simple moving average of $16.26 and a 200-day simple moving average of $17.40. InMode Ltd. has a fifty-two week low of $13.68 and a fifty-two week high of $19.85.

InMode (NASDAQ:INMD) last issued 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). The company had revenue of $77.87 million during the quarter, compared to analyst estimates of $82.21 million. InMode had a return on equity of 18.25% and a net margin of 45.91%. The business’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. On average, equities research analysts anticipate that InMode Ltd. will post 1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INMD has been the topic of a number of recent analyst reports. Barclays cut their price target on InMode from $29.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Canaccord Genuity Group dropped their target price on InMode from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, April 29th. UBS Group dropped their target price on InMode from $19.00 to $16.25 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Robert W. Baird cut InMode from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $22.00 to $16.00 in a report on Monday, April 28th. Finally, Jefferies Financial Group dropped their target price on InMode from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.54.

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.