DDD Partners LLC Has $27.31 Million Stock Position in InMode Ltd. (NASDAQ:INMD)

DDD Partners LLC lifted its position in InMode Ltd. (NASDAQ:INMD) by 24.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,228,162 shares of the healthcare company’s stock after acquiring an additional 240,856 shares during the period. InMode makes up about 3.7% of DDD Partners LLC’s investment portfolio, making the stock its 7th largest position. DDD Partners LLC’s holdings in InMode were worth $27,314,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ARK Investment Management LLC increased its holdings in shares of InMode by 94.9% in the fourth quarter. ARK Investment Management LLC now owns 92,989 shares of the healthcare company’s stock valued at $2,068,000 after purchasing an additional 45,276 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of InMode by 1,910.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 18,070 shares of the healthcare company’s stock valued at $402,000 after purchasing an additional 17,171 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of InMode by 9.1% in the third quarter. Vanguard Group Inc. now owns 889,004 shares of the healthcare company’s stock valued at $27,079,000 after purchasing an additional 74,082 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of InMode in the third quarter valued at $47,000. Finally, Citigroup Inc. increased its holdings in shares of InMode by 1.6% in the third quarter. Citigroup Inc. now owns 63,332 shares of the healthcare company’s stock valued at $1,929,000 after purchasing an additional 975 shares during the last quarter. 68.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on INMD shares. Barclays upped their price target on shares of InMode from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. UBS Group upped their price target on shares of InMode from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Finally, Canaccord Genuity Group restated a “hold” rating and issued a $22.00 price target on shares of InMode in a research note on Thursday, December 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $33.00.

InMode Stock Up 2.6 %

INMD opened at $21.20 on Thursday. InMode Ltd. has a twelve month low of $18.57 and a twelve month high of $48.25. The company has a 50-day simple moving average of $22.58 and a 200 day simple moving average of $23.57. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 9.22 and a beta of 2.17.

InMode (NASDAQ:INMD) last posted its quarterly earnings data on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. InMode had a net margin of 40.22% and a return on equity of 29.80%. The business had revenue of $126.80 million during the quarter, compared to analysts’ expectations of $124.77 million. During the same quarter in the prior year, the business posted $0.69 earnings per share. InMode’s revenue was down 5.1% compared to the same quarter last year. Sell-side analysts anticipate that InMode Ltd. will post 2.24 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.