Renaissance Technologies LLC Boosts Holdings in InMode Ltd. $INMD

Renaissance Technologies LLC increased its stake in InMode Ltd. (NASDAQ:INMD) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,586,218 shares of the healthcare company’s stock after buying an additional 149,800 shares during the period. Renaissance Technologies LLC’s holdings in InMode were worth $35,379,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Leonteq Securities AG bought a new position in shares of InMode in the 4th quarter worth approximately $26,000. Quadrant Capital Group LLC boosted its position in shares of InMode by 127.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,945 shares of the healthcare company’s stock valued at $29,000 after purchasing an additional 1,091 shares in the last quarter. Advisory Services Network LLC purchased a new stake in InMode in the third quarter worth $37,000. Basepoint Wealth LLC bought a new position in InMode in the fourth quarter worth $39,000. Finally, Deutsche Bank AG lifted its position in InMode by 35.9% during the fourth quarter. Deutsche Bank AG now owns 3,927 shares of the healthcare company’s stock valued at $58,000 after buying an additional 1,037 shares during the period. 68.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on INMD. Robert W. Baird reduced their target price on shares of InMode from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Barclays set a $19.00 price objective on shares of InMode and gave the stock an “overweight” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.00.

InMode Trading Up 0.6%

InMode stock opened at $15.47 on Wednesday. InMode Ltd. has a 12 month low of $12.72 and a 12 month high of $16.74. The stock has a fifty day simple moving average of $14.30 and a two-hundred day simple moving average of $14.20. The firm has a market cap of $889.22 million, a price-to-earnings ratio of 11.38 and a beta of 1.91.

InMode (NASDAQ:INMD) last announced its quarterly earnings results on Wednesday, May 6th. The healthcare company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). InMode had a net margin of 23.27% and a return on equity of 13.47%. The business had revenue of $82.02 million for the quarter, compared to the consensus estimate of $79.84 million. During the same period in the previous year, the company earned $0.31 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year.

InMode Profile

InMode Ltd. (NASDAQ:INMD) is a medical technology company headquartered in Israel that develops, manufactures and markets devices for aesthetic and medical treatments. The company specializes in energy-based technologies, primarily radiofrequency platforms, designed to deliver minimally-invasive and non-invasive procedures.

InMode’s product portfolio encompasses a range of modular systems targeting body contouring, facial rejuvenation, skin tightening and other cosmetic applications. Key offerings include devices built on proprietary radiofrequency and radiofrequency-assisted lipolysis, enabling physicians to perform treatments such as tissue coagulation, skin resurfacing and subdermal volumizing with reduced downtime.

The company distributes its technologies through direct sales operations and distribution partners, serving medical professionals across multiple geographies including North America, Europe, Asia Pacific and Latin America.