Wellington Management Group LLP acquired a new stake in InMode Ltd. (NASDAQ:INMD – Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 85,751 shares of the healthcare company’s stock, valued at approximately $1,254,000.
Several other hedge funds also recently bought and sold shares of the company. Leonteq Securities AG bought a new stake in InMode during the 4th quarter worth approximately $26,000. Quadrant Capital Group LLC boosted its holdings in InMode by 127.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,945 shares of the healthcare company’s stock valued at $29,000 after purchasing an additional 1,091 shares during the period. Advisory Services Network LLC purchased a new position in shares of InMode during the 3rd quarter valued at $37,000. Basepoint Wealth LLC purchased a new position in shares of InMode during the 4th quarter valued at $39,000. Finally, Deutsche Bank AG increased its holdings in shares of InMode by 35.9% in the fourth quarter. Deutsche Bank AG now owns 3,927 shares of the healthcare company’s stock worth $58,000 after purchasing an additional 1,037 shares during the period. Hedge funds and other institutional investors own 68.04% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of InMode in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $16.00.
InMode Stock Up 0.9%
NASDAQ INMD opened at $14.90 on Friday. The stock’s 50-day simple moving average is $15.07 and its two-hundred day simple moving average is $14.28. InMode Ltd. has a twelve month low of $12.72 and a twelve month high of $16.74. The company has a market capitalization of $856.45 million, a price-to-earnings ratio of 12.11 and a beta of 1.86.
InMode (NASDAQ:INMD – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The healthcare company reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $95.59 million during the quarter, compared to analysts’ expectations of $94.89 million. InMode had a return on equity of 11.99% and a net margin of 20.69%.The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 EPS.
InMode Profile
InMode Ltd. (NASDAQ:INMD) is a medical technology company headquartered in Israel that develops, manufactures and markets devices for aesthetic and medical treatments. The company specializes in energy-based technologies, primarily radiofrequency platforms, designed to deliver minimally-invasive and non-invasive procedures.
InMode’s product portfolio encompasses a range of modular systems targeting body contouring, facial rejuvenation, skin tightening and other cosmetic applications. Key offerings include devices built on proprietary radiofrequency and radiofrequency-assisted lipolysis, enabling physicians to perform treatments such as tissue coagulation, skin resurfacing and subdermal volumizing with reduced downtime.
The company distributes its technologies through direct sales operations and distribution partners, serving medical professionals across multiple geographies including North America, Europe, Asia Pacific and Latin America.
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