Avalon Investment & Advisory lowered its position in InMode Ltd. (NASDAQ:INMD – Get Rating) by 6.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 144,420 shares of the healthcare company's stock after selling 9,640 shares during the quarter. Avalon Investment & Advisory owned approximately 0.17% of InMode worth $4,204,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. increased its position in InMode by 7.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 29,939 shares of the healthcare company's stock worth $670,000 after acquiring an additional 2,072 shares during the period. Point72 Asset Management L.P. bought a new position in InMode in the 2nd quarter valued at about $5,479,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in InMode by 614.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,947 shares of the healthcare company's stock valued at $828,000 after buying an additional 31,773 shares during the period. Advisory Services Network LLC increased its holdings in InMode by 7.1% in the 1st quarter. Advisory Services Network LLC now owns 89,064 shares of the healthcare company's stock valued at $3,287,000 after buying an additional 5,920 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. increased its holdings in InMode by 99.2% in the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 288,344 shares of the healthcare company's stock valued at $6,461,000 after buying an additional 143,576 shares during the period. Institutional investors and hedge funds own 55.24% of the company's stock.
Get InMode alerts:InMode Trading Down 0.6 %
INMD opened at $32.70 on Friday. The company's 50 day moving average is $35.83 and its 200-day moving average is $32.80. InMode Ltd. has a 1-year low of $20.60 and a 1-year high of $54.68. The company has a market cap of $2.72 billion, a P/E ratio of 15.80 and a beta of 2.19.
InMode (NASDAQ:INMD – Get Rating) last posted its earnings results on Thursday, October 27th. The healthcare company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.05). InMode had a return on equity of 39.52% and a net margin of 40.93%. The business had revenue of $121.23 million for the quarter, compared to analyst estimates of $120.70 million. On average, equities analysts forecast that InMode Ltd. will post 2.09 EPS for the current year.Analyst Ratings Changes
Several equities analysts have commented on INMD shares. Barclays started coverage on shares of InMode in a report on Wednesday, December 21st. They issued an "overweight" rating and a $44.00 target price on the stock. TheStreet lowered shares of InMode from a "b-" rating to a "c+" rating in a report on Tuesday, September 20th. Finally, Jefferies Financial Group started coverage on shares of InMode in a report on Wednesday, October 12th. They issued a "buy" rating and a $40.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $46.17.
About InMode
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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.
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