Nano Cap New Millennium Growth Fund L P Buys New Holdings in InMode Ltd. $INMD

Nano Cap New Millennium Growth Fund L P bought a new stake in InMode Ltd. (NASDAQ:INMD) in the 4th quarter, Holdings Channel.com reports. The firm bought 90,000 shares of the healthcare company’s stock, valued at approximately $1,322,000. InMode accounts for about 1.1% of Nano Cap New Millennium Growth Fund L P’s portfolio, making the stock its 26th largest position.

Other hedge funds have also bought and sold shares of the company. Doma Perpetual Capital Management LLC increased its holdings in shares of InMode by 26.8% during the 3rd quarter. Doma Perpetual Capital Management LLC now owns 2,838,431 shares of the healthcare company’s stock worth $42,293,000 after acquiring an additional 599,108 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in InMode by 234.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company’s stock valued at $19,935,000 after acquiring an additional 788,157 shares during the period. Cooper Creek Partners Management LLC bought a new position in InMode in the 3rd quarter valued at about $14,980,000. Ancient Art L.P. bought a new position in InMode in the 3rd quarter valued at about $14,254,000. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in InMode by 9.9% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 899,090 shares of the healthcare company’s stock valued at $13,396,000 after acquiring an additional 81,170 shares during the period. 68.04% of the stock is currently owned by institutional investors and hedge funds.

InMode Price Performance

INMD stock opened at $13.83 on Friday. The company has a 50 day simple moving average of $13.89 and a 200 day simple moving average of $14.24. The stock has a market cap of $876.25 million, a price-to-earnings ratio of 10.17 and a beta of 1.97. InMode Ltd. has a 1 year low of $12.72 and a 1 year high of $16.74.

InMode (NASDAQ:INMD) last released its quarterly earnings data on Wednesday, May 6th. The healthcare company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). The company had revenue of $82.02 million for the quarter, compared to analyst estimates of $79.84 million. InMode had a return on equity of 13.47% and a net margin of 23.27%.InMode’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.31 earnings per share.

Analyst Ratings Changes

A number of research firms have recently weighed in on INMD. BTIG Research reissued a “neutral” rating on shares of InMode in a report on Monday, January 26th. Robert W. Baird dropped their target price on InMode from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of InMode in a report on Thursday, January 22nd. Finally, Barclays set a $19.00 target price on InMode and gave the stock an “overweight” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.00.

InMode Company Profile

InMode Ltd. (NASDAQ:INMD) is a medical technology company headquartered in Israel that develops, manufactures and markets devices for aesthetic and medical treatments. The company specializes in energy-based technologies, primarily radiofrequency platforms, designed to deliver minimally-invasive and non-invasive procedures.

InMode’s product portfolio encompasses a range of modular systems targeting body contouring, facial rejuvenation, skin tightening and other cosmetic applications. Key offerings include devices built on proprietary radiofrequency and radiofrequency-assisted lipolysis, enabling physicians to perform treatments such as tissue coagulation, skin resurfacing and subdermal volumizing with reduced downtime.

The company distributes its technologies through direct sales operations and distribution partners, serving medical professionals across multiple geographies including North America, Europe, Asia Pacific and Latin America.