Focus Partners Wealth Has $2.89 Million Holdings in InMode Ltd. (NASDAQ:INMD)

Focus Partners Wealth cut its position in InMode Ltd. (NASDAQ:INMD) by 19.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173,011 shares of the healthcare company’s stock after selling 41,200 shares during the period. Focus Partners Wealth owned 0.25% of InMode worth $2,889,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harvey Capital Management Inc. lifted its position in shares of InMode by 1.4% during the fourth quarter. Harvey Capital Management Inc. now owns 51,490 shares of the healthcare company’s stock worth $860,000 after purchasing an additional 700 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of InMode by 6.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 12,586 shares of the healthcare company’s stock worth $210,000 after purchasing an additional 721 shares in the last quarter. Covestor Ltd lifted its position in shares of InMode by 13.9% during the fourth quarter. Covestor Ltd now owns 5,936 shares of the healthcare company’s stock worth $99,000 after purchasing an additional 723 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of InMode by 26.2% during the fourth quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company’s stock worth $93,000 after purchasing an additional 1,154 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of InMode by 1.5% during the fourth quarter. Invesco Ltd. now owns 97,475 shares of the healthcare company’s stock worth $1,628,000 after purchasing an additional 1,444 shares in the last quarter. 68.04% of the stock is currently owned by institutional investors and hedge funds.

InMode Stock Performance

NASDAQ:INMD opened at $14.71 on Friday. InMode Ltd. has a 52 week low of $13.68 and a 52 week high of $19.85. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 6.26 and a beta of 2.02. The firm’s 50-day simple moving average is $16.08 and its 200 day simple moving average is $17.36.

InMode (NASDAQ:INMD) last released its earnings results 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 firm had revenue of $77.87 million during 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%. InMode’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 earnings per share. Sell-side analysts anticipate that InMode Ltd. will post 1.75 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Baird R W downgraded shares of InMode from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 28th. Barclays dropped their price target 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. BTIG Research downgraded shares of InMode from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 29th. Canaccord Genuity Group dropped their price target on shares of InMode from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, April 29th. Finally, Needham & Company LLC reissued a “hold” rating on shares of InMode in a research note 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.54.

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.