Boston Trust Walden Corp Sells 4,163 Shares of InMode Ltd. (NASDAQ:INMD)

Boston Trust Walden Corp reduced its position in shares of InMode Ltd. (NASDAQ:INMD) by 0.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,443,033 shares of the healthcare company’s stock after selling 4,163 shares during the quarter. Boston Trust Walden Corp owned about 1.72% of InMode worth $26,321,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INMD. Mirae Asset Global Investments Co. Ltd. raised its holdings in InMode by 2.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,643 shares of the healthcare company’s stock valued at $793,000 after buying an additional 701 shares during the period. Mutual of America Capital Management LLC purchased a new stake in InMode during the 4th quarter valued at $1,728,000. Strs Ohio raised its holdings in InMode by 17.4% during the 4th quarter. Strs Ohio now owns 28,300 shares of the healthcare company’s stock valued at $629,000 after buying an additional 4,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in InMode by 43.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,719 shares of the healthcare company’s stock valued at $1,172,000 after buying an additional 16,088 shares during the period. Finally, Federated Hermes Inc. raised its holdings in InMode by 5,512.7% during the 4th quarter. Federated Hermes Inc. now owns 582,434 shares of the healthcare company’s stock valued at $12,953,000 after buying an additional 572,057 shares during the period. 68.04% of the stock is currently owned by institutional investors.

InMode Stock Up 0.1 %

Shares of INMD stock traded up $0.02 on Friday, hitting $16.00. The stock had a trading volume of 695,616 shares, compared to its average volume of 1,415,309. The business has a 50 day moving average price of $17.51 and a 200 day moving average price of $19.31. The company has a market cap of $1.34 billion, a PE ratio of 7.58 and a beta of 2.18. InMode Ltd. has a one year low of $15.62 and a one year high of $40.40.

InMode (NASDAQ:INMD) last posted its earnings results on Thursday, August 1st. The healthcare company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.04). InMode had a net margin of 35.81% and a return on equity of 20.83%. The company had revenue of $102.60 million during the quarter, compared to analysts’ expectations of $104.81 million. During the same quarter last year, the firm earned $0.65 EPS. InMode’s revenue for the quarter was down 24.6% on a year-over-year basis. Equities research analysts expect that InMode Ltd. will post 1.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on INMD. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research note on Thursday, July 11th. Barclays reduced their target price on InMode from $33.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Canaccord Genuity Group reduced their target price on InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Finally, Jefferies Financial Group lowered InMode from a “buy” rating to a “hold” rating and reduced their target price for the stock from $21.00 to $19.00 in a research note on Tuesday, July 23rd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.40.

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.