LSV Asset Management Sells 71,300 Shares of InMode Ltd. $INMD

LSV Asset Management lessened its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 3.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,939,067 shares of the healthcare company’s stock after selling 71,300 shares during the quarter. LSV Asset Management’s holdings in InMode were worth $28,000,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Focus Partners Wealth boosted its stake in shares of InMode by 31.8% during the 1st quarter. Focus Partners Wealth now owns 227,959 shares of the healthcare company’s stock worth $4,044,000 after acquiring an additional 54,948 shares during the period. Acadian Asset Management LLC lifted its holdings in InMode by 6.6% during the 1st quarter. Acadian Asset Management LLC now owns 556,413 shares of the healthcare company’s stock valued at $9,858,000 after purchasing an additional 34,623 shares during the last quarter. Lind Value II ApS bought a new position in InMode during the second quarter worth $3,930,000. Fred Alger Management LLC boosted its position in InMode by 75.7% during the first quarter. Fred Alger Management LLC now owns 543,750 shares of the healthcare company’s stock worth $9,646,000 after purchasing an additional 234,285 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of InMode by 302.3% in the second quarter. Farther Finance Advisors LLC now owns 8,110 shares of the healthcare company’s stock valued at $117,000 after purchasing an additional 6,094 shares during the last quarter. Institutional investors own 68.04% of the company’s stock.

Analysts Set New Price Targets

INMD has been the subject of a number of research reports. Weiss Ratings restated a “sell (d+)” rating on shares of InMode in a research note on Wednesday, October 8th. Wall Street Zen cut shares of InMode from a “buy” rating to a “hold” rating in a 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. Barclays decreased their target price on InMode from $24.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. Finally, UBS Group dropped their price target on InMode from $16.25 to $16.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $16.80.

InMode Stock Up 1.7%

NASDAQ INMD opened at $14.15 on Wednesday. The firm has a 50-day moving average price of $15.00 and a two-hundred day moving average price of $14.62. InMode Ltd. has a 12-month low of $13.14 and a 12-month high of $19.83. The company has a market capitalization of $894.42 million, a P/E ratio of 6.55 and a beta of 2.11.

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