Prospect Capital Advisors LLC Purchases 105,250 Shares of InMode Ltd. $INMD

Prospect Capital Advisors LLC boosted its position in shares of InMode Ltd. (NASDAQ:INMD) by 50.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 313,450 shares of the healthcare company’s stock after purchasing an additional 105,250 shares during the quarter. InMode comprises about 2.4% of Prospect Capital Advisors LLC’s portfolio, making the stock its 20th biggest position. Prospect Capital Advisors LLC’s holdings in InMode were worth $4,288,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of INMD. Renaissance Technologies LLC lifted its holdings in shares of InMode by 6.1% in the 1st quarter. Renaissance Technologies LLC now owns 2,586,218 shares of the healthcare company’s stock worth $35,379,000 after buying an additional 149,800 shares during the period. Steel Partners Holdings L.P. increased its stake in shares of InMode by 154.8% during the first quarter. Steel Partners Holdings L.P. now owns 1,795,361 shares of the healthcare company’s stock valued at $24,561,000 after buying an additional 1,090,697 shares during the period. Millennium Management LLC increased its stake in shares of InMode by 111.4% during the fourth quarter. Millennium Management LLC now owns 1,778,681 shares of the healthcare company’s stock valued at $26,129,000 after buying an additional 937,376 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of InMode by 48.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,422,635 shares of the healthcare company’s stock valued at $20,899,000 after acquiring an additional 466,891 shares in the last quarter. Finally, Systematic Financial Management LP raised its holdings in shares of InMode by 6.7% in the first quarter. Systematic Financial Management LP now owns 1,154,457 shares of the healthcare company’s stock valued at $15,793,000 after acquiring an additional 72,041 shares in the last quarter. 68.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Robert W. Baird dropped their target price on shares of InMode from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Barclays set a $19.00 price target on shares of InMode and gave the company an “overweight” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $16.00.

InMode Trading Up 0.3%

Shares of NASDAQ INMD opened at $15.14 on Friday. The stock has a market capitalization of $870.25 million, a PE ratio of 11.13 and a beta of 1.91. The stock’s fifty day simple moving average is $14.38 and its two-hundred day simple moving average is $14.21. InMode Ltd. has a 12-month low of $12.72 and a 12-month high of $16.74.

InMode (NASDAQ:INMD) last announced its quarterly earnings results on Wednesday, May 6th. The healthcare company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). The company had revenue of $82.02 million during the quarter, compared to analysts’ expectations of $79.84 million. InMode had a net margin of 23.27% and a return on equity of 13.47%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 earnings per share.

InMode Company Profile

InMode Ltd. (NASDAQ:INMD) is a medical technology company headquartered in Israel that develops, manufactures and markets devices for aesthetic and medical treatments. The company specializes in energy-based technologies, primarily radiofrequency platforms, designed to deliver minimally-invasive and non-invasive procedures.

InMode’s product portfolio encompasses a range of modular systems targeting body contouring, facial rejuvenation, skin tightening and other cosmetic applications. Key offerings include devices built on proprietary radiofrequency and radiofrequency-assisted lipolysis, enabling physicians to perform treatments such as tissue coagulation, skin resurfacing and subdermal volumizing with reduced downtime.

The company distributes its technologies through direct sales operations and distribution partners, serving medical professionals across multiple geographies including North America, Europe, Asia Pacific and Latin America.