Jefferies Financial Group Inc. Acquires Shares of 134,500 InMode Ltd. (NASDAQ:INMD)

Jefferies Financial Group Inc. acquired a new stake in shares of InMode Ltd. (NASDAQ:INMD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 134,500 shares of the healthcare company’s stock, valued at approximately $2,246,000. Jefferies Financial Group Inc. owned 0.19% of InMode at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in InMode by 2.3% during the fourth quarter. Renaissance Technologies LLC now owns 2,266,618 shares of the healthcare company’s stock valued at $37,853,000 after purchasing an additional 50,200 shares during the period. LSV Asset Management raised its position in InMode by 0.4% during the fourth quarter. LSV Asset Management now owns 1,715,071 shares of the healthcare company’s stock valued at $28,642,000 after purchasing an additional 6,300 shares during the period. JPMorgan Chase & Co. raised its position in InMode by 4.4% during the fourth quarter. JPMorgan Chase & Co. now owns 1,084,241 shares of the healthcare company’s stock valued at $18,107,000 after purchasing an additional 45,638 shares during the period. Northern Trust Corp raised its position in InMode by 17.0% during the fourth quarter. Northern Trust Corp now owns 658,154 shares of the healthcare company’s stock valued at $10,991,000 after purchasing an additional 95,652 shares during the period. Finally, River Road Asset Management LLC purchased a new stake in InMode during the fourth quarter valued at approximately $8,572,000. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on INMD. Barclays reduced their price target on InMode from $29.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Robert W. Baird downgraded InMode from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $22.00 to $16.00 in a report on Monday, April 28th. Jefferies Financial Group dropped their price objective on InMode from $16.00 to $15.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research note on Monday, April 28th. Finally, Baird R W cut InMode from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $18.54.

InMode Stock Down 0.5%

Shares of NASDAQ:INMD opened at $14.92 on Wednesday. InMode Ltd. has a 52-week low of $13.68 and a 52-week high of $19.85. The stock has a market cap of $1.04 billion, a P/E ratio of 6.35 and a beta of 2.02. The business’s 50 day moving average is $16.26 and its 200 day moving average is $17.40.

InMode (NASDAQ:INMD) last announced its earnings results on Monday, April 28th. The healthcare company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.14). The company had revenue of $77.87 million for the quarter, compared to the consensus estimate of $82.21 million. InMode had a net margin of 45.91% and a return on equity of 18.25%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same period last year, the business posted $0.32 EPS. On average, sell-side analysts anticipate that InMode Ltd. will post 1.75 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.