Parkside Financial Bank & Trust Sells 768 Shares of InMode Ltd. (NASDAQ:INMD)

Parkside Financial Bank & Trust lowered its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 34.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,437 shares of the healthcare company’s stock after selling 768 shares during the quarter. Parkside Financial Bank & Trust’s holdings in InMode were worth $32,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new stake in InMode during the 3rd quarter valued at $27,000. Carmel Capital Partners LLC purchased a new stake in shares of InMode in the 3rd quarter worth about $36,000. Sunbelt Securities Inc. purchased a new stake in shares of InMode in the 3rd quarter worth about $47,000. CWM LLC lifted its position in shares of InMode by 38.3% in the 4th quarter. CWM LLC now owns 2,454 shares of the healthcare company’s stock worth $55,000 after purchasing an additional 680 shares during the period. Finally, NBC Securities Inc. purchased a new stake in shares of InMode in the 3rd quarter worth about $79,000. Hedge funds and other institutional investors own 68.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on INMD shares. UBS Group raised their target price on shares of InMode from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Barclays dropped 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. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research report on Tuesday, April 9th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $32.80.

InMode Stock Up 0.7 %

Shares of INMD stock opened at $17.14 on Friday. The company has a 50 day moving average price of $20.32 and a 200-day moving average price of $21.54. InMode Ltd. has a 52 week low of $16.82 and a 52 week high of $48.25. The firm has a market capitalization of $1.44 billion, a PE ratio of 7.45 and a beta of 2.16.

InMode (NASDAQ:INMD) last announced its quarterly earnings results on Tuesday, February 13th. The healthcare company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. InMode had a net margin of 40.22% and a return on equity of 29.80%. The firm had revenue of $126.80 million during the quarter, compared to analyst estimates of $124.77 million. During the same period in the previous year, the business posted $0.69 earnings per share. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. Analysts anticipate 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.