EMC Capital Management Buys Shares of 4,170 InMode Ltd. (NASDAQ:INMD)

EMC Capital Management bought a new stake in InMode Ltd. (NASDAQ:INMD) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,170 shares of the healthcare company’s stock, valued at approximately $90,000.

Other hedge funds also recently added to or reduced their stakes in the company. Meitav Investment House Ltd. raised its stake in shares of InMode by 22.1% during the fourth quarter. Meitav Investment House Ltd. now owns 1,940,890 shares of the healthcare company’s stock valued at $43,166,000 after purchasing an additional 351,863 shares in the last quarter. LSV Asset Management raised its stake in shares of InMode by 15.6% during the fourth quarter. LSV Asset Management now owns 1,940,071 shares of the healthcare company’s stock valued at $43,147,000 after purchasing an additional 261,252 shares in the last quarter. Boston Trust Walden Corp bought a new stake in shares of InMode during the fourth quarter valued at about $32,366,000. Harel Insurance Investments & Financial Services Ltd. raised its position in InMode by 3.4% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 900,831 shares of the healthcare company’s stock worth $19,467,000 after acquiring an additional 29,519 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in InMode by 21.6% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 899,166 shares of the healthcare company’s stock worth $19,997,000 after acquiring an additional 160,000 shares in the last quarter. 68.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on INMD shares. Canaccord Genuity Group dropped their price target on shares of InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Jefferies Financial Group cut shares of InMode from a “buy” rating to a “hold” rating and dropped their price target for the stock from $21.00 to $19.00 in a research report on Tuesday, July 23rd. Barclays dropped their price target on shares of InMode from $33.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Thursday, July 11th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $22.40.

InMode Trading Up 3.6 %

NASDAQ INMD opened at $17.16 on Friday. The stock’s 50-day moving average price is $18.03 and its two-hundred day moving average price is $19.80. The company has a market cap of $1.44 billion, a PE ratio of 8.13 and a beta of 2.18. InMode Ltd. has a 1 year low of $15.81 and a 1 year high of $43.58.

InMode (NASDAQ:INMD) last posted its quarterly earnings data on Thursday, May 2nd. The healthcare company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.09. The firm had revenue of $80.28 million for the quarter, compared to the consensus estimate of $80.10 million. InMode had a return on equity of 20.83% and a net margin of 35.81%. Research analysts forecast that InMode Ltd. will post 1.35 EPS for the current fiscal year.

About InMode

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.