abrdn plc Reduces Stock Position in InMode Ltd. (NASDAQ:INMD)

abrdn plc trimmed its position in InMode Ltd. (NASDAQ:INMD) by 10.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,351 shares of the healthcare company’s stock after selling 7,778 shares during the period. abrdn plc owned about 0.08% of InMode worth $1,431,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of INMD. Exchange Traded Concepts LLC acquired a new stake in InMode during the third quarter worth approximately $27,000. Carmel Capital Partners LLC acquired a new stake in shares of InMode during the third quarter worth $36,000. Sunbelt Securities Inc. purchased a new stake in shares of InMode in the third quarter valued at $47,000. NBC Securities Inc. acquired a new position in InMode in the third quarter valued at $79,000. Finally, Covestor Ltd lifted its position in InMode by 83.2% during the third quarter. Covestor Ltd now owns 3,291 shares of the healthcare company’s stock worth $100,000 after buying an additional 1,495 shares during the period. 68.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on INMD shares. Needham & Company LLC restated a “hold” rating on shares of InMode in a report on Tuesday, April 9th. UBS Group upped their price target on shares of InMode from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Finally, Barclays decreased their price target on shares of InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $32.80.

InMode Stock Performance

NASDAQ INMD opened at $17.23 on Tuesday. InMode Ltd. has a one year low of $16.82 and a one year high of $48.25. The company’s 50 day moving average price is $20.21 and its 200 day moving average price is $21.45. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 7.49 and a beta of 2.16.

InMode (NASDAQ:INMD) last announced its quarterly earnings results on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. InMode had a net margin of 40.22% and a return on equity of 29.80%. The firm had revenue of $126.80 million during the quarter, compared to analysts’ expectations of $124.77 million. During the same period in the prior year, the company earned $0.69 EPS. The firm’s revenue was down 5.1% on a year-over-year basis. Sell-side analysts forecast that InMode Ltd. will post 2.04 EPS for the current fiscal year.

InMode Company Profile

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.