Levin Capital Strategies L.P. Buys New Shares in InMode Ltd. (NASDAQ:INMD)

Levin Capital Strategies L.P. bought a new position in shares of InMode Ltd. (NASDAQ:INMD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,000 shares of the healthcare company’s stock, valued at approximately $378,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new position in shares of InMode in the 3rd quarter valued at about $27,000. Carmel Capital Partners LLC acquired a new position in InMode during the third quarter valued at approximately $36,000. Sunbelt Securities Inc. purchased a new stake in InMode during the third quarter worth approximately $47,000. CWM LLC increased its position in shares of InMode by 38.3% in the fourth quarter. CWM LLC now owns 2,454 shares of the healthcare company’s stock worth $55,000 after acquiring an additional 680 shares in the last quarter. Finally, NBC Securities Inc. purchased a new position in shares of InMode in the 3rd quarter valued at $79,000. 68.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays decreased their price target 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. UBS Group increased their target price on InMode from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of InMode in a report on Friday. Four equities 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, InMode currently has an average rating of “Hold” and an average target price of $32.80.

InMode Trading Up 1.6 %

INMD stock traded up $0.28 during trading on Friday, reaching $17.64. The stock had a trading volume of 1,596,091 shares, compared to its average volume of 1,567,969. The firm has a fifty day moving average price of $19.99 and a 200 day moving average price of $21.37. The company has a market capitalization of $1.48 billion, a P/E ratio of 7.67 and a beta of 2.20. InMode Ltd. has a 1-year low of $16.72 and a 1-year high of $48.25.

InMode (NASDAQ:INMD) last released 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. InMode had a return on equity of 29.80% and a net margin of 40.22%. The business had revenue of $126.80 million for the quarter, compared to analysts’ expectations of $124.77 million. During the same quarter in the previous year, the firm posted $0.69 earnings per share. The company’s revenue was down 5.1% compared to the same quarter last year. Sell-side analysts predict that InMode Ltd. will post 2.04 EPS 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.