Crestline Management LP Invests $559,000 in InMode Ltd. (NASDAQ:INMD)

Crestline Management LP bought a new stake in InMode Ltd. (NASDAQ:INMD) during the fourth quarter, Holdings Channel reports. The fund bought 33,499 shares of the healthcare company’s stock, valued at approximately $559,000.

A number of other institutional investors have also recently added to or reduced their stakes in INMD. SBI Securities Co. Ltd. acquired a new position in shares of InMode in the 4th quarter valued at about $87,000. Farther Finance Advisors LLC raised its holdings in InMode by 26.2% in the fourth quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company’s stock valued at $93,000 after buying an additional 1,154 shares during the period. Covestor Ltd lifted its position in InMode by 13.9% during the fourth quarter. Covestor Ltd now owns 5,936 shares of the healthcare company’s stock valued at $99,000 after buying an additional 723 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in InMode during the fourth quarter worth approximately $114,000. Finally, Quarry LP increased its position in shares of InMode by 100.0% in the fourth quarter. Quarry LP now owns 7,561 shares of the healthcare company’s stock worth $126,000 after acquiring an additional 3,780 shares in the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Stock Up 1.6 %

INMD stock opened at $14.46 on Friday. The company has a market capitalization of $1.01 billion, a PE ratio of 6.15 and a beta of 2.02. The stock’s 50 day moving average is $16.43 and its two-hundred day moving average is $17.44. InMode Ltd. has a 52-week low of $13.68 and a 52-week high of $19.85.

InMode (NASDAQ:INMD) last posted its quarterly earnings results on Monday, April 28th. The healthcare company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.14). The company had revenue of $77.87 million during the quarter, compared to analyst estimates of $82.21 million. InMode had a net margin of 45.91% and a return on equity of 18.25%. The company’s revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 earnings per share. As a group, sell-side analysts anticipate that InMode Ltd. will post 1.75 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barclays reduced their target price on shares of InMode from $29.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Baird R W downgraded InMode from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. Jefferies Financial Group dropped their target price on InMode from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Monday, April 14th. UBS Group decreased their price target on InMode from $19.00 to $16.25 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Finally, BTIG Research lowered shares of InMode from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 29th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $18.54.

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.