Morse Asset Management Inc Has $1.44 Million Stock Position in InMode Ltd. (NASDAQ:INMD)

Morse Asset Management Inc lessened its position in InMode Ltd. (NASDAQ:INMD) by 0.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 66,687 shares of the healthcare company’s stock after selling 611 shares during the period. Morse Asset Management Inc owned approximately 0.08% of InMode worth $1,441,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Trust Co. of Vermont grew its holdings in InMode by 32.8% during the fourth quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock worth $48,000 after buying an additional 536 shares in the last quarter. CWM LLC grew its stake in shares of InMode by 38.3% in the 4th 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. Allspring Global Investments Holdings LLC raised its holdings in shares of InMode by 9.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the healthcare company’s stock valued at $165,000 after purchasing an additional 691 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of InMode by 2.0% during 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 purchasing an additional 701 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its holdings in InMode by 69.2% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,200 shares of the healthcare company’s stock worth $49,000 after purchasing an additional 900 shares during the last quarter. Institutional investors own 68.04% of the company’s stock.

InMode Trading Up 1.6 %

Shares of NASDAQ:INMD traded up $0.29 on Friday, reaching $17.89. 562,517 shares of the company traded hands, compared to its average volume of 1,454,891. InMode Ltd. has a 52 week low of $16.44 and a 52 week high of $48.25. The business’s 50-day simple moving average is $18.15 and its 200 day simple moving average is $19.90. The stock has a market capitalization of $1.50 billion, a P/E ratio of 8.48 and a beta of 2.18.

InMode (NASDAQ:INMD) last posted its earnings results on Thursday, May 2nd. The healthcare company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.09. The company had revenue of $80.28 million for the quarter, compared to analysts’ expectations of $80.10 million. InMode had a return on equity of 26.15% and a net margin of 38.84%. Sell-side analysts expect that InMode Ltd. will post 1.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INMD has been the subject of several analyst reports. Barclays decreased their price objective on shares of InMode from $33.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Canaccord Genuity Group dropped their price target on InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Jefferies Financial Group cut InMode from a “buy” rating to a “hold” rating and cut their price objective for the stock from $21.00 to $19.00 in a research report on Tuesday, July 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research report on Thursday, July 11th. Five 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, InMode currently has an average rating of “Hold” and an average price target of $28.83.

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.