Bank Hapoalim BM Sells 7,122 Shares of InMode Ltd. (NASDAQ:INMD)

Bank Hapoalim BM lessened its stake in InMode Ltd. (NASDAQ:INMD) by 13.0% in the third quarter, HoldingsChannel reports. The fund owned 47,733 shares of the healthcare company’s stock after selling 7,122 shares during the period. Bank Hapoalim BM’s holdings in InMode were worth $809,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC grew its holdings in InMode by 11.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,068,396 shares of the healthcare company’s stock worth $37,728,000 after acquiring an additional 214,200 shares during the last quarter. Doma Perpetual Capital Management LLC increased its holdings in InMode by 210.7% during the 2nd quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company’s stock valued at $36,685,000 after purchasing an additional 1,363,841 shares during the period. DDD Partners LLC raised its position in InMode by 19.4% during the 2nd quarter. DDD Partners LLC now owns 1,266,678 shares of the healthcare company’s stock valued at $23,104,000 after purchasing an additional 205,947 shares during the last quarter. Federated Hermes Inc. lifted its holdings in InMode by 191.9% in the 2nd quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock worth $20,520,000 after buying an additional 739,629 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of InMode by 63.6% in the 2nd quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company’s stock worth $20,502,000 after buying an additional 437,122 shares during the last quarter. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

INMD has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of InMode in a report on Thursday. Barclays decreased their price objective on shares of InMode from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, October 14th. BTIG Research started coverage on shares of InMode in a research note on Thursday, October 17th. They set a “buy” rating and a $25.00 target price on the stock. Canaccord Genuity Group lowered their price objective on shares of InMode from $21.00 to $16.00 and set a “hold” rating for the company in a report on Friday, July 12th. Finally, Jefferies Financial Group cut InMode from a “buy” rating to a “hold” rating and cut their price objective for the company from $21.00 to $19.00 in a research report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $22.60.

InMode Price Performance

NASDAQ:INMD traded down $0.09 during mid-day trading on Thursday, hitting $17.78. 39,847 shares of the company’s stock were exchanged, compared to its average volume of 1,341,832. The company has a market cap of $1.49 billion, a PE ratio of 8.47 and a beta of 2.17. InMode Ltd. has a one year low of $14.87 and a one year high of $26.80. The business has a fifty day moving average price of $16.60 and a 200 day moving average price of $17.35.

InMode (NASDAQ:INMD) last posted its quarterly earnings results on Thursday, August 1st. The healthcare company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.04). The company had revenue of $102.60 million during the quarter, compared to analysts’ expectations of $104.81 million. InMode had a return on equity of 21.00% and a net margin of 35.81%. The business’s quarterly revenue was down 24.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.65 EPS. On average, equities analysts forecast that InMode Ltd. will post 1.58 EPS for the current fiscal 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.