LSV Asset Management Sells 71,300 Shares of InMode Ltd. $INMD

LSV Asset Management lessened its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,939,067 shares of the healthcare company’s stock after selling 71,300 shares during the period. LSV Asset Management owned approximately 3.07% of InMode worth $28,000,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of INMD. Goldman Sachs Group Inc. raised its holdings in InMode by 234.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company’s stock worth $19,935,000 after buying an additional 788,157 shares during the period. Systematic Financial Management LP increased its position in shares of InMode by 2.2% during the first quarter. Systematic Financial Management LP now owns 1,049,608 shares of the healthcare company’s stock worth $18,620,000 after acquiring an additional 22,785 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of InMode by 6.6% during the first quarter. Acadian Asset Management LLC now owns 556,413 shares of the healthcare company’s stock worth $9,858,000 after acquiring an additional 34,623 shares during the period. Fred Alger Management LLC raised its holdings in shares of InMode by 75.7% during the first quarter. Fred Alger Management LLC now owns 543,750 shares of the healthcare company’s stock worth $9,646,000 after acquiring an additional 234,285 shares during the period. Finally, Lind Value II ApS bought a new stake in InMode in the 2nd quarter valued at $3,930,000. 68.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Canaccord Genuity Group increased their target price on InMode from $14.00 to $16.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Barclays decreased their price objective on InMode from $24.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Weiss Ratings restated a “sell (d+)” rating on shares of InMode in a research note on Wednesday, October 8th. Wall Street Zen cut shares of InMode from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, UBS Group lowered their price objective on shares of InMode from $16.25 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $16.80.

InMode Stock Performance

Shares of NASDAQ INMD opened at $14.15 on Wednesday. The stock has a 50 day moving average price of $15.00 and a 200 day moving average price of $14.62. The stock has a market capitalization of $894.42 million, a PE ratio of 6.55 and a beta of 2.11. InMode Ltd. has a 52 week low of $13.14 and a 52 week high of $19.83.

InMode (NASDAQ:INMD) last posted its quarterly earnings results on Wednesday, November 5th. The healthcare company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.06. The firm had revenue of $93.17 million for the quarter, compared to analyst estimates of $88.05 million. InMode had a return on equity of 14.50% and a net margin of 41.04%.The business’s quarterly revenue was down 28.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.70 EPS. As a group, research analysts forecast that InMode Ltd. will post 1.75 EPS 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.