InMode Ltd. (NASDAQ:INMD) Position Increased by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its stake in shares of InMode Ltd. (NASDAQ:INMD) by 99.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,616 shares of the healthcare company’s stock after buying an additional 17,793 shares during the quarter. Handelsbanken Fonder AB’s holdings in InMode were worth $792,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in INMD. LSV Asset Management boosted its holdings in shares of InMode by 3,557.6% during the third quarter. LSV Asset Management now owns 1,678,819 shares of the healthcare company’s stock valued at $51,137,000 after acquiring an additional 1,632,919 shares during the period. Boston Trust Walden Corp acquired a new position in InMode during the 4th quarter valued at about $32,366,000. Meitav Investment House Ltd. grew its position in InMode by 58.2% in the 3rd quarter. Meitav Investment House Ltd. now owns 1,589,027 shares of the healthcare company’s stock worth $49,448,000 after purchasing an additional 584,655 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of InMode by 5,512.7% in the fourth quarter. Federated Hermes Inc. now owns 582,434 shares of the healthcare company’s stock valued at $12,953,000 after purchasing an additional 572,057 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd increased its stake in shares of InMode by 44.0% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,080,000 shares of the healthcare company’s stock valued at $32,897,000 after purchasing an additional 330,000 shares during the period. 68.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. UBS Group increased their price objective on InMode from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Tuesday, April 9th. Finally, Barclays lowered their price target on InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $32.80.

InMode Price Performance

INMD opened at $17.23 on Tuesday. InMode Ltd. has a 1-year low of $16.82 and a 1-year high of $48.25. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 7.49 and a beta of 2.16. The business has a 50 day moving average price of $20.21 and a two-hundred day moving average price of $21.45.

InMode (NASDAQ:INMD) last announced its quarterly earnings data on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. The business had revenue of $126.80 million during the quarter, compared to analyst estimates of $124.77 million. InMode had a return on equity of 29.80% and a net margin of 40.22%. The company’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 earnings per share. Equities analysts expect that InMode Ltd. will post 2.04 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.