Systematic Financial Management LP Increases Stake in InMode Ltd. (NASDAQ:INMD)

Systematic Financial Management LP increased its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,026,823 shares of the healthcare company’s stock after buying an additional 44,712 shares during the period. Systematic Financial Management LP’s holdings in InMode were worth $17,148,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. River Road Asset Management LLC acquired a new position in InMode during the 4th quarter worth approximately $8,572,000. Norges Bank acquired a new position in InMode during the 4th quarter worth approximately $2,943,000. Quantedge Capital Pte Ltd grew its holdings in InMode by 644.8% during the 4th quarter. Quantedge Capital Pte Ltd now owns 171,300 shares of the healthcare company’s stock worth $2,861,000 after acquiring an additional 148,300 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in InMode during the 4th quarter worth approximately $2,246,000. Finally, Cary Street Partners Financial LLC acquired a new position in InMode during the 4th quarter worth approximately $2,214,000. 68.04% of the stock is owned by hedge funds and other institutional investors.

InMode Trading Down 0.3%

Shares of InMode stock opened at $14.67 on Friday. The company has a fifty day simple moving average of $16.00 and a 200-day simple moving average of $17.34. InMode Ltd. has a 12-month low of $13.68 and a 12-month high of $19.85. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 6.24 and a beta of 2.02.

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

Wall Street Analyst Weigh In

INMD has been the subject of several analyst reports. Baird R W cut shares of InMode from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Canaccord Genuity Group lowered their price target on shares of InMode from $17.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, April 29th. UBS Group lowered their price target on shares of InMode from $19.00 to $16.25 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a report on Monday, April 28th. Finally, BTIG Research cut shares of InMode from a “buy” rating to a “neutral” rating in a report on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.54.

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.