Quantedge Capital Pte Ltd Sells 48,600 Shares of InMode Ltd. $INMD

Quantedge Capital Pte Ltd reduced its stake in InMode Ltd. (NASDAQ:INMD) by 19.2% during the first quarter, Holdings Channel.com reports. The firm owned 204,300 shares of the healthcare company’s stock after selling 48,600 shares during the period. InMode accounts for about 1.5% of Quantedge Capital Pte Ltd’s portfolio, making the stock its 14th largest position. Quantedge Capital Pte Ltd’s holdings in InMode were worth $2,795,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Millennium Management LLC grew its holdings in shares of InMode by 111.4% in the fourth quarter. Millennium Management LLC now owns 1,778,681 shares of the healthcare company’s stock worth $26,129,000 after purchasing an additional 937,376 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of InMode by 48.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,422,635 shares of the healthcare company’s stock worth $20,899,000 after buying an additional 466,891 shares during the period. Cooper Creek Partners Management LLC purchased a new position in shares of InMode in the third quarter worth $14,980,000. Hotchkis & Wiley Capital Management LLC raised its holdings in InMode by 9.9% during 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 buying an additional 81,170 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in InMode by 66.6% during the 4th quarter. Janus Henderson Group PLC now owns 887,557 shares of the healthcare company’s stock valued at $13,038,000 after buying an additional 354,890 shares during the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on INMD. Barclays set a $19.00 price target on shares of InMode and gave the company an “overweight” rating in a research report on Thursday, May 7th. Robert W. Baird lowered their price objective 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 issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $16.00.

InMode Stock Performance

INMD opened at $15.36 on Wednesday. The company has a market cap of $882.89 million, a price-to-earnings ratio of 11.29 and a beta of 1.91. The stock has a fifty day simple moving average of $14.18 and a two-hundred day simple moving average of $14.19. InMode Ltd. has a 12-month low of $12.72 and a 12-month high of $16.74.

InMode (NASDAQ:INMD) last announced its earnings results on Wednesday, May 6th. The healthcare company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). The business had revenue of $82.02 million for the quarter, compared to the consensus estimate of $79.84 million. InMode had a net margin of 23.27% and a return on equity of 13.47%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS.

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.