Mackenzie Financial Corp Cuts Stock Position in InMode Ltd. (NASDAQ:INMD)

Mackenzie Financial Corp cut its holdings in InMode Ltd. (NASDAQ:INMD) by 72.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,382 shares of the healthcare company’s stock after selling 44,967 shares during the quarter. Mackenzie Financial Corp’s holdings in InMode were worth $387,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Meitav Investment House Ltd. grew its holdings in shares of InMode by 22.1% in the fourth quarter. Meitav Investment House Ltd. now owns 1,940,890 shares of the healthcare company’s stock valued at $43,166,000 after purchasing an additional 351,863 shares in the last quarter. LSV Asset Management lifted its position in InMode by 3,557.6% in the third quarter. LSV Asset Management now owns 1,678,819 shares of the healthcare company’s stock worth $51,137,000 after buying an additional 1,632,919 shares during the last quarter. Boston Trust Walden Corp bought a new stake in InMode in the fourth quarter worth $32,366,000. DDD Partners LLC lifted its position in InMode by 24.4% in the fourth quarter. DDD Partners LLC now owns 1,228,162 shares of the healthcare company’s stock worth $27,314,000 after buying an additional 240,856 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd lifted its position in 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 worth $32,897,000 after buying an additional 330,000 shares during the last quarter. 68.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

InMode Trading Up 0.7 %

Shares of InMode stock opened at $17.14 on Friday. The firm has a market cap of $1.44 billion, a P/E ratio of 7.45 and a beta of 2.16. InMode Ltd. has a 12 month low of $16.82 and a 12 month high of $48.25. The stock’s fifty day moving average price is $20.32 and its 200-day moving average price is $21.54.

InMode (NASDAQ:INMD) last announced its quarterly earnings results on Tuesday, February 13th. The healthcare company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. The firm had revenue of $126.80 million for 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 business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share. Analysts forecast that InMode Ltd. will post 2.04 earnings per share for the current 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.