Boston Trust Walden Corp Sells 34,962 Shares of InMode Ltd. (NASDAQ:INMD)

Boston Trust Walden Corp lowered its position in shares of InMode Ltd. (NASDAQ:INMD) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,408,071 shares of the healthcare company’s stock after selling 34,962 shares during the period. Boston Trust Walden Corp’s holdings in InMode were worth $23,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in INMD. Inspire Advisors LLC grew its holdings in InMode by 45.5% in the 3rd quarter. Inspire Advisors LLC now owns 31,192 shares of the healthcare company’s stock valued at $529,000 after buying an additional 9,759 shares in the last quarter. Unison Advisors LLC bought a new position in InMode during the third quarter worth about $675,000. Handelsbanken Fonder AB increased its position in InMode by 6.7% during the third quarter. Handelsbanken Fonder AB now owns 128,097 shares of the healthcare company’s stock worth $2,171,000 after acquiring an additional 8,028 shares during the period. SG Americas Securities LLC raised its stake in InMode by 221.7% in the 3rd quarter. SG Americas Securities LLC now owns 73,611 shares of the healthcare company’s stock worth $1,248,000 after purchasing an additional 50,731 shares in the last quarter. Finally, Systematic Financial Management LP boosted its holdings in InMode by 34.5% in the 2nd quarter. Systematic Financial Management LP now owns 866,619 shares of the healthcare company’s stock valued at $15,807,000 after purchasing an additional 222,532 shares during the period. 68.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Thursday, October 10th. Canaccord Genuity Group dropped their price objective on InMode from $21.00 to $16.00 and set a “hold” rating for the company in a report on Friday, July 12th. Barclays reduced their target price on InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Jefferies Financial Group cut InMode from a “buy” rating to a “hold” rating and decreased their price target for the stock from $21.00 to $19.00 in a research report on Tuesday, July 23rd. Finally, BTIG Research assumed coverage on shares of InMode in a research note on Thursday, October 17th. They set a “buy” rating and a $25.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.60.

InMode Stock Performance

InMode stock opened at $17.55 on Friday. InMode Ltd. has a 52 week low of $14.87 and a 52 week high of $26.80. The stock has a market capitalization of $1.47 billion, a P/E ratio of 10.09 and a beta of 2.17. The stock has a fifty day moving average of $16.48 and a 200-day moving average of $17.37.

InMode (NASDAQ:INMD) last posted its earnings results on Thursday, August 1st. The healthcare company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). The company had revenue of $102.60 million during the quarter, compared to the consensus estimate of $104.81 million. InMode had a return on equity of 21.00% and a net margin of 35.81%. The firm’s revenue was down 24.6% compared to the same quarter last year. During the same period last year, the company posted $0.65 EPS. On average, research analysts forecast that InMode Ltd. will post 1.58 earnings per share 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.