LSV Asset Management Sells 60,300 Shares of InMode Ltd. (NASDAQ:INMD)

LSV Asset Management lessened its stake in shares of InMode Ltd. (NASDAQ:INMD) by 3.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,879,771 shares of the healthcare company’s stock after selling 60,300 shares during the period. LSV Asset Management’s holdings in InMode were worth $40,622,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Meitav Investment House Ltd. lifted its stake in shares of InMode by 22.1% during the 4th quarter. Meitav Investment House Ltd. now owns 1,940,890 shares of the healthcare company’s stock valued at $43,166,000 after buying an additional 351,863 shares in the last quarter. Boston Trust Walden Corp purchased a new stake in shares of InMode during the fourth quarter worth about $32,366,000. DDD Partners LLC raised its stake in InMode by 24.4% during the 4th quarter. DDD Partners LLC now owns 1,228,162 shares of the healthcare company’s stock valued at $27,314,000 after purchasing an additional 240,856 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in InMode by 3.4% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 900,831 shares of the healthcare company’s stock worth $19,467,000 after purchasing an additional 29,519 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in InMode by 21.6% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 899,166 shares of the healthcare company’s stock worth $19,997,000 after purchasing an additional 160,000 shares during the period. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Stock Performance

INMD stock traded up $1.05 during mid-day trading on Friday, reaching $17.87. 2,370,841 shares of the stock traded hands, compared to its average volume of 1,470,036. The business has a 50-day moving average price of $18.24 and a two-hundred day moving average price of $20.24. The stock has a market capitalization of $1.50 billion, a PE ratio of 8.42 and a beta of 2.18. InMode Ltd. has a one year low of $16.44 and a one year high of $48.25.

InMode (NASDAQ:INMD) last posted its quarterly earnings data on Thursday, May 2nd. The healthcare company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. InMode had a net margin of 38.84% and a return on equity of 26.15%. The company had revenue of $80.28 million for the quarter, compared to analyst estimates of $80.10 million. On average, equities analysts expect that InMode Ltd. will post 1.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on INMD shares. Canaccord Genuity Group reduced their price objective on shares of InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday. Barclays decreased their price target on shares of InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Finally, Needham & Company LLC restated a “hold” rating on shares of InMode in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, InMode presently has an average rating of “Hold” and an average target price of $31.60.

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.