LMR Partners LLP Takes Position in InMode Ltd. (NASDAQ:INMD)

LMR Partners LLP acquired a new stake in InMode Ltd. (NASDAQ:INMD) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 17,332 shares of the healthcare company’s stock, valued at approximately $289,000.

A number of other institutional investors also recently made changes to their positions in the business. Renaissance Technologies LLC boosted its stake in shares of InMode by 2.3% in the 4th 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 in the last quarter. LSV Asset Management raised its holdings in InMode by 0.4% during the 4th quarter. LSV Asset Management now owns 1,715,071 shares of the healthcare company’s stock valued at $28,642,000 after buying an additional 6,300 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in InMode by 4.4% during the 4th quarter. JPMorgan Chase & Co. now owns 1,084,241 shares of the healthcare company’s stock valued at $18,107,000 after buying an additional 45,638 shares during the last quarter. Northern Trust Corp raised its holdings in InMode by 17.0% during the 4th quarter. Northern Trust Corp now owns 658,154 shares of the healthcare company’s stock valued at $10,991,000 after buying an additional 95,652 shares during the last quarter. Finally, River Road Asset Management LLC bought a new stake in InMode during the 4th quarter valued at $8,572,000. Hedge funds and other institutional investors own 68.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Barclays lowered their price target on shares of InMode from $29.00 to $24.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a report on Monday, April 28th. Baird R W lowered shares of InMode from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Jefferies Financial Group lowered their price target on shares of InMode from $16.00 to $15.00 and set a “hold” rating for the company in a report on Monday, April 14th. Finally, Robert W. Baird lowered shares of InMode from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $22.00 to $16.00 in a report on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.54.

InMode Trading Down 2.3%

Shares of NASDAQ INMD opened at $14.57 on Thursday. InMode Ltd. has a 12 month low of $13.68 and a 12 month high of $19.85. The firm has a market capitalization of $1.01 billion, a PE ratio of 6.20 and a beta of 2.02. The firm has a fifty day simple moving average of $16.17 and a two-hundred day simple moving average of $17.38.

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