Systematic Financial Management LP Buys 72,041 Shares of InMode Ltd. $INMD

Systematic Financial Management LP lifted its stake in shares of InMode Ltd. (NASDAQ:INMD) by 6.7% during the first quarter, HoldingsChannel.com reports. The fund owned 1,154,457 shares of the healthcare company’s stock after buying an additional 72,041 shares during the quarter. Systematic Financial Management LP’s holdings in InMode were worth $15,793,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cooper Creek Partners Management LLC bought a new stake in shares of InMode during the third quarter valued at approximately $14,980,000. Millennium Management LLC grew its stake in InMode by 111.4% in the fourth quarter. Millennium Management LLC now owns 1,778,681 shares of the healthcare company’s stock worth $26,129,000 after purchasing an additional 937,376 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in InMode by 234.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company’s stock worth $19,935,000 after purchasing an additional 788,157 shares in the last quarter. Steel Partners Holdings L.P. purchased a new position in InMode during the 4th quarter worth $10,352,000. Finally, Bank of America Corp DE increased its holdings in InMode by 142.1% during the 2nd quarter. Bank of America Corp DE now owns 862,209 shares of the healthcare company’s stock worth $12,450,000 after purchasing an additional 506,134 shares during the period. Institutional investors own 68.04% of the company’s stock.

InMode Stock Performance

NASDAQ:INMD opened at $15.17 on Friday. InMode Ltd. has a one year low of $12.72 and a one year high of $16.74. The firm has a market cap of $871.97 million, a P/E ratio of 11.15 and a beta of 1.91. The firm has a 50-day simple moving average of $14.25 and a 200-day simple moving average of $14.21.

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

Wall Street Analysts Forecast Growth

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

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.