State of Wyoming Makes New $624,000 Investment in InMode Ltd. $INMD

State of Wyoming purchased a new position in InMode Ltd. (NASDAQ:INMD) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 42,466 shares of the healthcare company’s stock, valued at approximately $624,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of INMD. Royal Bank of Canada grew its stake in InMode by 5.7% in the 1st quarter. Royal Bank of Canada now owns 242,398 shares of the healthcare company’s stock worth $4,299,000 after buying an additional 13,032 shares in the last quarter. AQR Capital Management LLC purchased a new position in InMode in the 1st quarter worth approximately $317,000. Goldman Sachs Group Inc. grew its stake 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 worth $19,935,000 after buying an additional 788,157 shares in the last quarter. American Century Companies Inc. grew its stake in InMode by 132.9% in the 2nd quarter. American Century Companies Inc. now owns 44,240 shares of the healthcare company’s stock worth $639,000 after buying an additional 25,246 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in InMode by 270.7% in the 2nd quarter. Marshall Wace LLP now owns 555,573 shares of the healthcare company’s stock worth $8,022,000 after buying an additional 405,707 shares in the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on INMD shares. Barclays set a $19.00 price target on shares of InMode and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Robert W. Baird cut their price target on shares of InMode from $17.00 to $14.00 and set a “neutral” rating for the company in a research note 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 company. Based on data from MarketBeat.com, InMode has an average rating of “Hold” and a consensus price target of $16.00.

InMode Stock Performance

Shares of InMode stock opened at $13.54 on Friday. InMode Ltd. has a 52-week low of $12.72 and a 52-week high of $16.74. The stock has a market capitalization of $857.88 million, a price-to-earnings ratio of 9.96 and a beta of 1.94. The company has a fifty day moving average of $13.93 and a 200-day moving average of $14.18.

InMode (NASDAQ:INMD) last announced 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). InMode had a net margin of 23.27% and a return on equity of 13.47%. The business had revenue of $82.02 million during the quarter, compared to analysts’ expectations of $79.84 million. During the same period last year, the company posted $0.31 EPS. InMode’s revenue for the quarter was up 5.3% on a year-over-year basis.

About InMode

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.