85,767 Shares in InMode Ltd. (NASDAQ:INMD) Bought by Principal Financial Group Inc.

Principal Financial Group Inc. acquired a new position in shares of InMode Ltd. (NASDAQ:INMD) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 85,767 shares of the healthcare company’s stock, valued at approximately $1,853,000. Principal Financial Group Inc. owned 0.10% of InMode as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Securities Inc. bought a new position in InMode in the fourth quarter valued at $32,000. Sunbelt Securities Inc. bought a new position in InMode in the third quarter valued at $47,000. Trust Co. of Vermont grew its position in InMode by 32.8% in the fourth quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock valued at $48,000 after purchasing an additional 536 shares in the last quarter. Newbridge Financial Services Group Inc. grew its position in InMode by 69.2% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,200 shares of the healthcare company’s stock valued at $49,000 after purchasing an additional 900 shares in the last quarter. Finally, CWM LLC grew its position in InMode by 38.3% in the fourth quarter. CWM LLC now owns 2,454 shares of the healthcare company’s stock valued at $55,000 after purchasing an additional 680 shares in the last quarter. 68.04% of the stock is currently owned by institutional investors and hedge funds.

InMode Stock Up 0.2 %

Shares of NASDAQ INMD traded up $0.04 during mid-day trading on Friday, reaching $17.52. 433,561 shares of the company were exchanged, compared to its average volume of 1,439,819. The company’s 50-day simple moving average is $18.24 and its 200-day simple moving average is $20.42. The stock has a market capitalization of $1.47 billion, a P/E ratio of 8.23 and a beta of 2.18. InMode Ltd. has a twelve month low of $16.72 and a twelve month high of $48.25.

InMode (NASDAQ:INMD) last posted its earnings results on Thursday, May 2nd. The healthcare company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. The company had revenue of $80.28 million during the quarter, compared to analysts’ expectations of $80.10 million. InMode had a net margin of 38.84% and a return on equity of 26.15%. As a group, equities research analysts expect that InMode Ltd. will post 1.8 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on INMD. Barclays decreased their price objective on shares of InMode from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research report on Friday, May 3rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $32.80.

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.