InMode Ltd. (NASDAQ:INMD) Stake Boosted by LRT Capital Management LLC

LRT Capital Management LLC grew its stake in shares of InMode Ltd. (NASDAQ:INMD) by 37.9% during the 4th quarter, HoldingsChannel reports. The fund owned 74,421 shares of the healthcare company’s stock after acquiring an additional 20,461 shares during the period. LRT Capital Management LLC’s holdings in InMode were worth $1,243,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of INMD. SBI Securities Co. Ltd. acquired a new stake in shares of InMode in the 4th quarter valued at $87,000. Farther Finance Advisors LLC lifted its stake in shares of InMode by 26.2% in the 4th quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company’s stock valued at $93,000 after purchasing an additional 1,154 shares during the last quarter. Covestor Ltd lifted its stake in shares of InMode by 13.9% in the 4th quarter. Covestor Ltd now owns 5,936 shares of the healthcare company’s stock valued at $99,000 after purchasing an additional 723 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of InMode in the 4th quarter valued at $114,000. Finally, Quarry LP lifted its stake in shares of InMode by 100.0% in the 4th quarter. Quarry LP now owns 7,561 shares of the healthcare company’s stock valued at $126,000 after purchasing an additional 3,780 shares during the last quarter. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INMD has been the subject of several analyst reports. Barclays reduced their price objective on shares of InMode from $29.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. UBS Group reduced their price objective on shares of InMode from $19.00 to $16.25 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Robert W. Baird lowered shares of InMode from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $22.00 to $16.00 in a research note on Monday, April 28th. Baird R W lowered shares of InMode from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. Finally, Canaccord Genuity Group cut their target price on shares of InMode from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, April 29th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $18.54.

InMode Price Performance

InMode stock opened at $14.46 on Monday. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 6.15 and a beta of 2.02. InMode Ltd. has a fifty-two week low of $13.68 and a fifty-two week high of $19.85. The firm has a fifty day moving average price of $16.43 and a two-hundred day moving average price of $17.44.

InMode (NASDAQ:INMD) last released its earnings results on Monday, April 28th. The healthcare company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.14). The firm had revenue of $77.87 million for the quarter, compared to analyst estimates of $82.21 million. InMode had a return on equity of 18.25% and a net margin of 45.91%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 EPS. As a group, sell-side analysts expect that InMode Ltd. will post 1.75 earnings per share for the current year.

InMode 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.