Federated Hermes Inc. Has $2.70 Million Position in InMode Ltd. (NASDAQ:INMD)

Federated Hermes Inc. grew its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 10.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 152,430 shares of the healthcare company’s stock after acquiring an additional 14,203 shares during the period. Federated Hermes Inc.’s holdings in InMode were worth $2,704,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Renaissance Technologies LLC grew its holdings in InMode by 2.3% during the 4th quarter. Renaissance Technologies LLC now owns 2,266,618 shares of the healthcare company’s stock worth $37,853,000 after acquiring an additional 50,200 shares during the period. LSV Asset Management grew its holdings in InMode by 0.4% during the 4th quarter. LSV Asset Management now owns 1,715,071 shares of the healthcare company’s stock worth $28,642,000 after acquiring an additional 6,300 shares during the period. JPMorgan Chase & Co. grew its holdings in InMode by 4.4% during the 4th quarter. JPMorgan Chase & Co. now owns 1,084,241 shares of the healthcare company’s stock worth $18,107,000 after acquiring an additional 45,638 shares during the period. Systematic Financial Management LP grew its holdings in InMode by 4.6% during the 4th quarter. Systematic Financial Management LP now owns 1,026,823 shares of the healthcare company’s stock worth $17,148,000 after acquiring an additional 44,712 shares during the period. Finally, DDD Partners LLC grew its holdings in InMode by 63.1% during the 1st quarter. DDD Partners LLC now owns 989,903 shares of the healthcare company’s stock worth $17,561,000 after acquiring an additional 382,938 shares during the period. 68.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Barclays reduced their target price on InMode from $24.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Canaccord Genuity Group restated a “hold” rating and issued a $15.00 target price on shares of InMode in a research note on Friday, July 11th. Baird R W downgraded InMode from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 28th. Needham & Company LLC restated a “hold” rating on shares of InMode in a research note on Wednesday, July 30th. Finally, Jefferies Financial Group reduced their target price on InMode from $16.00 to $15.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.04.

InMode Stock Performance

Shares of NASDAQ INMD opened at $14.07 on Tuesday. InMode Ltd. has a fifty-two week low of $13.14 and a fifty-two week high of $19.85. The stock has a market cap of $889.36 million, a price-to-earnings ratio of 5.70 and a beta of 1.93. The firm’s 50-day simple moving average is $14.32 and its 200 day simple moving average is $15.94.

InMode (NASDAQ:INMD) last announced its quarterly earnings results on Wednesday, July 30th. The healthcare company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). InMode had a net margin of 44.50% and a return on equity of 18.38%. The business had revenue of $95.60 million during the quarter, compared to the consensus estimate of $98.45 million. During the same period in the previous year, the business posted $0.34 EPS. InMode’s revenue was up 10.6% compared to the same quarter last year. On average, sell-side analysts predict that InMode Ltd. will post 1.75 EPS for the current year.

InMode 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.