Easterly Investment Partners LLC Invests $902,000 in InMode Ltd. $INMD

Easterly Investment Partners LLC acquired a new position in shares of InMode Ltd. (NASDAQ:INMD) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 62,450 shares of the healthcare company’s stock, valued at approximately $902,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INMD. Parallel Advisors LLC lifted its stake in InMode by 63.1% during the second quarter. Parallel Advisors LLC now owns 1,973 shares of the healthcare company’s stock worth $28,000 after purchasing an additional 763 shares in the last quarter. CWM LLC raised its holdings in shares of InMode by 106.4% in the 1st quarter. CWM LLC now owns 2,369 shares of the healthcare company’s stock valued at $42,000 after buying an additional 1,221 shares during the period. Summit Securities Group LLC purchased a new stake in shares of InMode in the 1st quarter valued at $70,000. Farther Finance Advisors LLC lifted its stake in InMode by 302.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,110 shares of the healthcare company’s stock worth $117,000 after acquiring an additional 6,094 shares in the last quarter. Finally, Ritholtz Wealth Management purchased a new position in InMode during the 2nd quarter valued at about $151,000. Hedge funds and other institutional investors own 68.04% of the company’s stock.

Wall Street Analyst Weigh In

INMD has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of InMode in a research note on Wednesday, October 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research note on Friday, October 10th. Canaccord Genuity Group raised their price target on shares of InMode from $14.00 to $16.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Wall Street Zen upgraded shares of InMode from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Zacks Research upgraded shares of InMode from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $16.85.

InMode Stock Up 0.6%

Shares of InMode stock opened at $15.31 on Friday. InMode Ltd. has a 52-week low of $13.14 and a 52-week high of $19.85. The company has a market capitalization of $967.73 million, a P/E ratio of 6.20 and a beta of 2.09. The company has a 50 day moving average of $14.89 and a 200 day moving average of $14.68.

InMode (NASDAQ:INMD) last announced its quarterly earnings data on Wednesday, July 30th. The healthcare company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The firm had revenue of $95.60 million during the quarter, compared to analyst estimates of $98.45 million. InMode had a net margin of 44.50% and a return on equity of 18.38%. InMode’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 earnings per share. As a group, research analysts anticipate that InMode Ltd. will post 1.75 earnings per share for the current fiscal year.

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.