Migdal Insurance & Financial Holdings Ltd. Has $20 Million Position in InMode Ltd. (NASDAQ:INMD)

Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of InMode Ltd. (NASDAQ:INMD) by 21.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 899,166 shares of the healthcare company’s stock after buying an additional 160,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned approximately 1.08% of InMode worth $19,997,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its stake in InMode by 34.7% during the second quarter. Parkside Financial Bank & Trust now owns 1,955 shares of the healthcare company’s stock worth $73,000 after buying an additional 504 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in InMode by 1.5% in the third quarter. Janney Montgomery Scott LLC now owns 40,278 shares of the healthcare company’s stock valued at $1,227,000 after acquiring an additional 601 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in InMode by 1.9% in the third quarter. Los Angeles Capital Management LLC now owns 33,916 shares of the healthcare company’s stock valued at $1,033,000 after acquiring an additional 640 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in InMode by 2.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,643 shares of the healthcare company’s stock valued at $793,000 after acquiring an additional 701 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in InMode by 97.1% in the third quarter. Tower Research Capital LLC TRC now owns 1,472 shares of the healthcare company’s stock valued at $45,000 after acquiring an additional 725 shares during the last quarter. Institutional investors and hedge funds own 68.04% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on INMD. Barclays reduced their price objective on shares of InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. UBS Group increased their target price on shares of InMode from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of InMode in a 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $32.80.

InMode Stock Up 0.5 %

INMD traded up $0.09 during trading on Wednesday, hitting $17.71. The company had a trading volume of 499,351 shares, compared to its average volume of 1,594,882. The company has a market capitalization of $1.49 billion, a PE ratio of 7.66 and a beta of 2.16. InMode Ltd. has a one year low of $17.29 and a one year high of $48.25. The firm’s 50-day moving average price is $21.47 and its 200 day moving average price is $22.13.

InMode (NASDAQ:INMD) last issued its quarterly earnings results on Tuesday, February 13th. The healthcare company reported $0.71 EPS 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 analysts’ expectations of $124.77 million. InMode had a net margin of 40.22% and a return on equity of 29.80%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 EPS. Sell-side analysts forecast that InMode Ltd. will post 2.04 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.