LSV Asset Management Increases Holdings in InMode Ltd. (NASDAQ:INMD)

LSV Asset Management lifted its holdings in InMode Ltd. (NASDAQ:INMD) by 15.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,940,071 shares of the healthcare company’s stock after purchasing an additional 261,252 shares during the quarter. LSV Asset Management owned 2.34% of InMode worth $43,147,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Levin Capital Strategies L.P. purchased a new stake in shares of InMode in the 4th quarter worth approximately $378,000. Value Star Asset Management Hong Kong Ltd purchased a new position in shares of InMode in the fourth quarter worth about $4,485,000. Marco Investment Management LLC increased its holdings in InMode by 52.4% in the 4th quarter. Marco Investment Management LLC now owns 12,065 shares of the healthcare company’s stock worth $268,000 after buying an additional 4,150 shares during the period. Meritage Portfolio Management grew its position in InMode by 86.6% during the 4th quarter. Meritage Portfolio Management now owns 34,975 shares of the healthcare company’s stock worth $778,000 after purchasing an additional 16,235 shares during the period. Finally, Jennison Associates LLC purchased a new stake in shares of InMode in the fourth quarter worth about $15,101,000. Institutional investors own 68.04% of the company’s stock.

InMode Price Performance

InMode stock opened at $17.77 on Monday. InMode Ltd. has a 12-month low of $16.72 and a 12-month high of $48.25. The firm’s 50-day moving average is $19.92 and its two-hundred day moving average is $21.35. The stock has a market capitalization of $1.49 billion, a P/E ratio of 8.36 and a beta of 2.20.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on INMD. UBS Group boosted their price target 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 decreased their price objective on shares of InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, InMode currently has a consensus rating of “Hold” and a consensus target price of $32.80.

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.