Inspire Advisors LLC Acquires 6,076 Shares of InMode Ltd. $INMD

Inspire Advisors LLC increased its holdings in InMode Ltd. (NASDAQ:INMD) by 10.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,150 shares of the healthcare company’s stock after buying an additional 6,076 shares during the quarter. Inspire Advisors LLC owned 0.10% of InMode worth $955,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in INMD. Cerity Partners LLC bought a new position in InMode in the first quarter worth approximately $201,000. New York State Common Retirement Fund increased its stake in shares of InMode by 57.3% in the 1st quarter. New York State Common Retirement Fund now owns 38,453 shares of the healthcare company’s stock worth $682,000 after purchasing an additional 14,000 shares in the last quarter. CWM LLC raised its holdings in InMode by 106.4% in the 1st quarter. CWM LLC now owns 2,369 shares of the healthcare company’s stock worth $42,000 after purchasing an additional 1,221 shares during the period. Victory Capital Management Inc. bought a new position in InMode in the 1st quarter worth $1,289,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in InMode during the first quarter valued at $906,000. 68.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

INMD has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research note on Friday, October 10th. Wall Street Zen lowered shares of InMode from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Barclays lowered their price target on shares of InMode from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. UBS Group reduced their price objective on shares of InMode from $16.25 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Finally, Zacks Research upgraded shares of InMode from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $16.80.

InMode Price Performance

INMD stock opened at $14.15 on Wednesday. InMode Ltd. has a 1-year low of $13.14 and a 1-year high of $19.83. The business has a 50 day simple moving average of $15.00 and a two-hundred day simple moving average of $14.62. The company has a market capitalization of $894.42 million, a price-to-earnings ratio of 6.55 and a beta of 2.11.

InMode (NASDAQ:INMD) last released its quarterly earnings data on Wednesday, November 5th. The healthcare company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.06. InMode had a net margin of 41.04% and a return on equity of 14.50%. The firm had revenue of $93.17 million for the quarter, compared to analysts’ expectations of $88.05 million. During the same quarter last year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was down 28.5% compared to the same quarter last year. Sell-side analysts anticipate that InMode Ltd. will post 1.75 EPS for the current fiscal year.

InMode 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.