Daiwa Securities Group Inc. Trims Stock Holdings in InMode Ltd. (NASDAQ:INMD)

Daiwa Securities Group Inc. trimmed its holdings in InMode Ltd. (NASDAQ:INMD) by 21.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,111 shares of the healthcare company’s stock after selling 4,140 shares during the period. Daiwa Securities Group Inc.’s holdings in InMode were worth $336,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of INMD. Exchange Traded Concepts LLC purchased a new position in InMode in the 3rd quarter valued at approximately $27,000. Carmel Capital Partners LLC purchased a new position in InMode in the 3rd quarter valued at approximately $36,000. Sunbelt Securities Inc. purchased a new position in InMode in the 3rd quarter valued at approximately $47,000. NBC Securities Inc. purchased a new position in shares of InMode during the 3rd quarter valued at $79,000. Finally, Covestor Ltd grew its position in shares of InMode by 83.2% during the 3rd quarter. Covestor Ltd now owns 3,291 shares of the healthcare company’s stock valued at $100,000 after purchasing an additional 1,495 shares in the last quarter. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

InMode Stock Up 0.7 %

InMode stock opened at $17.14 on Friday. The company has a market capitalization of $1.44 billion, a PE ratio of 7.45 and a beta of 2.16. The firm has a fifty day simple moving average of $20.32 and a two-hundred day simple moving average of $21.59. InMode Ltd. has a twelve month low of $16.82 and a twelve month high of $48.25.

InMode (NASDAQ:INMD) last posted its quarterly earnings results on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. The business had revenue of $126.80 million during the quarter, compared to the consensus estimate of $124.77 million. InMode had a net margin of 40.22% and a return on equity of 29.80%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 earnings per share. As a group, equities analysts expect that InMode Ltd. will post 2.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group boosted their price target on shares of InMode from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Barclays reduced their price target on shares of InMode from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Finally, Needham & Company LLC restated a “hold” rating on shares of InMode in a research report on Tuesday, April 9th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $32.80.

InMode Company Profile

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.