InMode Ltd. (NASDAQ:INMD) Position Boosted by Meritage Portfolio Management

Meritage Portfolio Management lifted its position in InMode Ltd. (NASDAQ:INMD) by 86.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 34,975 shares of the healthcare company’s stock after buying an additional 16,235 shares during the quarter. Meritage Portfolio Management’s holdings in InMode were worth $778,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC bought a new stake in InMode during the third quarter worth approximately $27,000. Carmel Capital Partners LLC bought a new stake in InMode during the third quarter worth approximately $36,000. Newbridge Financial Services Group Inc. bought a new stake in InMode during the third quarter worth approximately $40,000. Sunbelt Securities Inc. acquired a new position in shares of InMode during the third quarter worth approximately $47,000. Finally, CWM LLC lifted its holdings in shares of InMode by 38.3% during the fourth quarter. CWM LLC now owns 2,454 shares of the healthcare company’s stock worth $55,000 after buying an additional 680 shares during the last quarter. Institutional investors own 68.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of InMode in a research note on Tuesday, April 9th. Barclays cut their target price on InMode from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Finally, UBS Group upped their price target on InMode from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $32.80.

InMode Trading Up 0.9 %

Shares of NASDAQ INMD traded up $0.15 during mid-day trading on Friday, reaching $17.17. 583,473 shares of the company’s stock were exchanged, compared to its average volume of 1,562,973. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 7.40 and a beta of 2.16. The business has a fifty day simple moving average of $20.43 and a 200 day simple moving average of $21.66. InMode Ltd. has a twelve month low of $16.82 and a twelve month high of $48.25.

InMode (NASDAQ:INMD) last released its quarterly earnings results on Tuesday, February 13th. The healthcare company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The company had revenue of $126.80 million for the quarter, compared to analyst estimates of $124.77 million. InMode had a return on equity of 29.80% and a net margin of 40.22%. InMode’s revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 earnings per share. Equities research analysts predict that InMode Ltd. will post 2.04 earnings per share for the current fiscal 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.