Signaturefd LLC increases its equity holdings in InMode Ltd. (NASDAQ: INMD)
Signaturefd LLC increased its position in shares of InMode Ltd. (NASDAQ: INMD – Get Rating) by 92.5% in the first quarter, reports HoldingsChannel. The company held 2,164 shares of the healthcare company after buying an additional 1,040 shares during the period. Signaturefd LLC’s holdings in InMode were worth $80,000 at the end of the most recent reporting period.
A number of other large investors have also increased or reduced their stake in the company. Acadian Asset Management LLC increased its position in InMode by 98.3% during the fourth quarter. Acadian Asset Management LLC now owns 3,124,466 shares of the healthcare company valued at $220,492,000 after purchasing an additional 1,548,971 shares last quarter. Renaissance Technologies LLC increased its position in InMode by 145.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,583,362 shares of the healthcare company valued at $182,334,000 after purchasing an additional 1,529,681 shares last quarter. 1832 Asset Management LP increased its position in InMode by 432.6% during the fourth quarter. 1832 Asset Management LP now owns 2,260,400 shares of the healthcare company valued at $160,320,000 after buying an additional 1,836,000 shares last quarter. William Blair Investment Management LLC increased its position in InMode by 97.0% during the fourth quarter. William Blair Investment Management LLC now owns 1,653,921 shares of the healthcare company valued at $116,734,000 after buying 814,527 additional shares last quarter. Finally, American Century Companies Inc. increased its stake in InMode shares by 138.9% during the fourth quarter. American Century Companies Inc. now owns 835,392 shares of the healthcare company valued at $58,962,000 after buying an additional 485,670 shares in the last quarter. Hedge funds and other institutional investors hold 53.58% of the company’s shares.
InMode Price Performance
NASDAQ INMD opened at $29.28 on Thursday. The stock has a market capitalization of $2.44 billion, a PE ratio of 14.90 and a beta of 2.13. InMode Ltd. has a 1-year minimum of $20.60 and a 1-year maximum of $99.27. The company’s 50-day moving average is $24.89 and its 200-day moving average is $33.47.
InMode (NASDAQ:INMD – Get Rating) last released its results on Monday, May 2. The healthcare company reported earnings per share (EPS) of $0.36 for the quarter. The company posted revenue of $85.90 million for the quarter, compared to analysts’ expectations of $83.45 million. InMode had a return on equity of 43.98% and a net margin of 44.79%. InMode’s quarterly revenue increased 31.1% year over year. During the same period last year, the company earned earnings per share of $0.69.
Changes to analyst ratings
A number of research analysts have recently published INMD stock reports. Canaccord Genuity Group cut its price target on InMode from $50.00 to $40.00 and set a “buy” rating on the stock in a Thursday, June 30 research note. Canaccord Genuity Group cut its price target on InMode from $50.00 to $40.00 and set a “buy” rating on the stock in a Thursday, June 30 research note. TheStreet upgraded InMode from a “c-” to a “d+” rating in a Tuesday, May 17 research note. Robert W. Baird reduced his price target on InMode from $57.00 to $44.00 in a Wednesday July 13 research note. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a price target of $82.00 on InMode shares in a Monday, April 18 research note. Six equity research analysts rated the stock with a buy rating. Based on data from MarketBeat, InMode currently has a consensus rating of “Buy” and an average target price of $65.17.
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InMode Ltd. designs, develops, manufactures and markets minimally invasive aesthetic medical products based on its proprietary radiofrequency-assisted lipolysis and deep subcutaneous fractional radiofrequency technologies in the United States and around the world. The company offers minimally invasive aesthetic medical products for various procedures, such as liposuction with simultaneous skin tightening, body and facial contouring and ablative skin rejuvenation treatments, as well as for use under the conditions and women’s health procedures.
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