Meitav Investment House Ltd. Has $136,000 Stake in InMode Ltd. $INMD

Meitav Investment House Ltd. reduced its stake in shares of InMode Ltd. (NASDAQ:INMD) by 98.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,150 shares of the healthcare company’s stock after selling 910,000 shares during the period. Meitav Investment House Ltd.’s holdings in InMode were worth $136,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in INMD. Cooper Creek Partners Management LLC bought a new position in shares of InMode during the third quarter worth about $14,980,000. Ancient Art L.P. acquired a new stake in InMode during the 3rd quarter valued at approximately $14,254,000. Millennium Management LLC raised its holdings in InMode by 111.4% during the 4th 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 during the last quarter. Goldman Sachs Group Inc. raised its holdings in InMode by 234.9% during the 1st 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 during the last quarter. Finally, Steel Partners Holdings L.P. acquired a new position in shares of InMode in the 4th quarter worth approximately $10,352,000. Institutional investors own 68.04% of the company’s stock.

Analyst Ratings Changes

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

InMode Trading Down 0.4%

Shares of NASDAQ INMD opened at $14.54 on Wednesday. The firm has a market capitalization of $835.76 million, a P/E ratio of 10.69 and a beta of 1.91. The firm’s 50-day moving average price is $13.95 and its 200-day moving average price is $14.15. InMode Ltd. has a 1-year low of $12.72 and a 1-year high of $16.74.

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

About InMode

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.