New York State Common Retirement Fund Sells 26,819 Shares of InMode Ltd. (NASDAQ:INMD)

New York State Common Retirement Fund reduced its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 23.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,690 shares of the healthcare company’s stock after selling 26,819 shares during the quarter. New York State Common Retirement Fund owned 0.10% of InMode worth $1,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Duality Advisers LP bought a new position in InMode during the 4th quarter valued at about $1,773,000. Ibex Investors LLC bought a new position in InMode during the third quarter valued at approximately $1,954,000. UBS Group AG boosted its holdings in InMode by 3.9% in the third quarter. UBS Group AG now owns 753,026 shares of the healthcare company’s stock worth $22,937,000 after purchasing an additional 28,446 shares during the last quarter. 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 period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of InMode by 45.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 164,928 shares of the healthcare company’s stock valued at $5,024,000 after buying an additional 51,181 shares during the period. 68.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on INMD shares. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Friday, May 3rd. UBS Group increased their price objective on shares of InMode from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Finally, Barclays cut their target price on shares of InMode from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. 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 data from MarketBeat.com, InMode has a consensus rating of “Hold” and a consensus target price of $32.80.

InMode Trading Down 1.1 %

InMode stock opened at $18.30 on Thursday. InMode Ltd. has a 12-month low of $16.72 and a 12-month high of $48.25. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 8.67 and a beta of 2.20. The firm has a 50 day moving average of $19.72 and a 200 day moving average of $21.31.

InMode (NASDAQ:INMD) last posted its quarterly earnings results on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. InMode had a net margin of 38.84% and a return on equity of 26.15%. The business had revenue of $126.80 million during the quarter, compared to analyst estimates of $124.77 million. During the same period in the prior year, the business posted $0.69 earnings per share. The company’s revenue was down 5.1% on a year-over-year basis. On average, analysts predict that InMode Ltd. will post 2.04 EPS 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.