LSV Asset Management Sells 60,300 Shares of InMode Ltd. (NASDAQ:INMD)

LSV Asset Management decreased its holdings in InMode Ltd. (NASDAQ:INMD) by 3.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,879,771 shares of the healthcare company’s stock after selling 60,300 shares during the period. LSV Asset Management owned about 2.24% of InMode worth $40,622,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in INMD. Neo Ivy Capital Management bought a new stake in InMode in the 3rd quarter valued at $317,000. Sunbelt Securities Inc. acquired a new position in InMode in the 3rd quarter valued at about $47,000. Vanguard Group Inc. raised its holdings in InMode by 9.1% in the 3rd quarter. Vanguard Group Inc. now owns 889,004 shares of the healthcare company’s stock valued at $27,079,000 after acquiring an additional 74,082 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of InMode by 1,910.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 18,070 shares of the healthcare company’s stock worth $402,000 after acquiring an additional 17,171 shares during the period. Finally, ARK Investment Management LLC lifted its holdings in InMode by 94.9% during the 4th quarter. ARK Investment Management LLC now owns 92,989 shares of the healthcare company’s stock worth $2,068,000 after purchasing an additional 45,276 shares during the last quarter. 68.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on INMD. Barclays reduced their price target on InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Canaccord Genuity Group decreased their price target on InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.60.

InMode Stock Performance

Shares of InMode stock traded up $1.05 during trading on Friday, reaching $17.87. 2,370,841 shares of the company’s stock were exchanged, compared to its average volume of 1,470,036. The firm’s 50-day moving average price is $18.24 and its 200 day moving average price is $20.24. The company has a market cap of $1.50 billion, a P/E ratio of 8.42 and a beta of 2.18. InMode Ltd. has a 1-year low of $16.44 and a 1-year high of $48.25.

InMode (NASDAQ:INMD) last posted its earnings results on Thursday, May 2nd. The healthcare company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. The firm had revenue of $80.28 million during the quarter, compared to analysts’ expectations of $80.10 million. InMode had a net margin of 38.84% and a return on equity of 26.15%. As a group, equities research analysts predict that InMode Ltd. will post 1.8 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.