North Growth Management Ltd. Acquires 147,000 Shares of InMode Ltd. (NASDAQ:INMD)

North Growth Management Ltd. raised its stake in shares of InMode Ltd. (NASDAQ:INMD) by 38.0% during the fourth quarter, Holdings Channel reports. The firm owned 534,000 shares of the healthcare company’s stock after buying an additional 147,000 shares during the period. InMode comprises 2.5% of North Growth Management Ltd.’s holdings, making the stock its 13th biggest holding. North Growth Management Ltd.’s holdings in InMode were worth $11,879,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of INMD. LSV Asset Management raised its stake in shares of InMode by 3,557.6% in 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 last quarter. Boston Trust Walden Corp bought a new stake in shares of InMode during the fourth quarter worth $32,366,000. Jennison Associates LLC acquired a new stake in shares of InMode in the fourth quarter valued at $15,101,000. Federated Hermes Inc. raised its holdings 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 buying an additional 572,057 shares during the last quarter. Finally, Meitav Investment House Ltd. lifted its position in InMode by 22.1% during the 4th quarter. Meitav Investment House Ltd. now owns 1,940,890 shares of the healthcare company’s stock worth $43,166,000 after buying an additional 351,863 shares in the last quarter. 68.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on INMD. Barclays lowered their price objective 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. Needham & Company LLC restated a “hold” rating on shares of InMode in a research report on Friday, May 3rd. Finally, UBS Group increased their price objective on InMode from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $32.80.

InMode Stock Up 2.2 %

NASDAQ INMD traded up $0.40 during trading hours on Monday, hitting $18.50. The company’s stock had a trading volume of 793,975 shares, compared to its average volume of 1,539,149. The stock has a fifty day moving average of $19.56 and a 200 day moving average of $21.30. InMode Ltd. has a twelve month low of $16.72 and a twelve month high of $48.25. The firm has a market capitalization of $1.55 billion, a P/E ratio of 8.77 and a beta of 2.20.

InMode (NASDAQ:INMD) last posted its quarterly earnings results on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. The business had revenue of $126.80 million for the quarter, compared to analyst estimates of $124.77 million. InMode had a return on equity of 26.15% and a net margin of 38.84%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the company earned $0.69 EPS. On average, analysts predict that InMode Ltd. will post 1.8 earnings per share for the current year.

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.