Wellington Management Group LLP Invests $1.25 Million in InMode Ltd. $INMD

Wellington Management Group LLP bought a new stake in InMode Ltd. (NASDAQ:INMD) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 85,751 shares of the healthcare company’s stock, valued at approximately $1,254,000. Wellington Management Group LLP owned approximately 0.15% of InMode as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Royal Bank of Canada boosted its position in InMode by 5.7% in the first quarter. Royal Bank of Canada now owns 242,398 shares of the healthcare company’s stock worth $4,299,000 after purchasing an additional 13,032 shares during the last quarter. AQR Capital Management LLC bought a new position in InMode in the 1st quarter valued at $317,000. Goldman Sachs Group Inc. increased its position in shares of InMode by 234.9% during 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 purchasing an additional 788,157 shares during the last quarter. American Century Companies Inc. increased its position in shares of InMode by 132.9% during the 2nd quarter. American Century Companies Inc. now owns 44,240 shares of the healthcare company’s stock valued at $639,000 after purchasing an additional 25,246 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in shares of InMode by 270.7% during the 2nd quarter. Marshall Wace LLP now owns 555,573 shares of the healthcare company’s stock worth $8,022,000 after purchasing an additional 405,707 shares during the period. 68.04% of the stock is owned by hedge funds and other institutional investors.

InMode Trading Up 0.9%

NASDAQ:INMD opened at $14.90 on Friday. InMode Ltd. has a 12 month low of $12.72 and a 12 month high of $16.74. The firm’s 50 day moving average is $15.07 and its 200 day moving average is $14.28. The stock has a market capitalization of $856.45 million, a PE ratio of 12.11 and a beta of 1.86.

InMode (NASDAQ:INMD) last announced its quarterly earnings data on Wednesday, August 5th. The healthcare company reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. InMode had a return on equity of 11.99% and a net margin of 20.69%.The business had revenue of $95.59 million for the quarter, compared to analysts’ expectations of $94.89 million. During the same period in the previous year, the business posted $0.47 EPS. The firm’s quarterly revenue was up .0% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of InMode in a report on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.