LSV Asset Management Sells 1,764,558 Shares of InMode Ltd. $INMD

LSV Asset Management cut its stake in InMode Ltd. (NASDAQ:INMD) by 91.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 174,509 shares of the healthcare company’s stock after selling 1,764,558 shares during the quarter. LSV Asset Management owned about 0.28% of InMode worth $2,600,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in INMD. Aviva PLC grew its stake in InMode by 3.9% in the second quarter. Aviva PLC now owns 33,264 shares of the healthcare company’s stock valued at $480,000 after purchasing an additional 1,263 shares during the last quarter. Blue Trust Inc. raised its stake in InMode by 93.7% in the third quarter. Blue Trust Inc. now owns 2,861 shares of the healthcare company’s stock valued at $43,000 after buying an additional 1,384 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its position in shares of InMode by 13.3% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 26,459 shares of the healthcare company’s stock valued at $394,000 after purchasing an additional 3,113 shares during the last quarter. Denali Advisors LLC boosted its stake in InMode by 10.5% in the 2nd quarter. Denali Advisors LLC now owns 34,851 shares of the healthcare company’s stock worth $503,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Inspire Investing LLC grew its position in InMode by 27.5% during the 3rd quarter. Inspire Investing LLC now owns 16,338 shares of the healthcare company’s stock worth $243,000 after purchasing an additional 3,523 shares during the last quarter. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

InMode Stock Performance

NASDAQ INMD opened at $14.30 on Tuesday. The firm has a market capitalization of $906.05 million, a P/E ratio of 9.93 and a beta of 2.19. The stock has a 50-day simple moving average of $14.66 and a two-hundred day simple moving average of $14.70. InMode Ltd. has a fifty-two week low of $13.14 and a fifty-two week high of $19.78.

InMode (NASDAQ:INMD) last posted its earnings results on Tuesday, February 10th. The healthcare company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.42 by $0.04. InMode had a return on equity of 14.52% and a net margin of 25.33%.The firm had revenue of $103.85 million for the quarter, compared to analyst estimates of $104.64 million. During the same period last year, the company earned $0.42 earnings per share. InMode’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, analysts forecast that InMode Ltd. will post 1.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on INMD shares. UBS Group decreased their price target on shares of InMode from $16.25 to $16.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Robert W. Baird set a $17.00 target price on InMode in a research note on Wednesday, February 11th. BTIG Research reiterated a “neutral” rating on shares of InMode in a research note on Monday, January 26th. Canaccord Genuity Group set a $15.00 price objective on InMode and gave the stock a “hold” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of InMode in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.80.

InMode 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.