Steel Partners Holdings L.P. Buys 1,090,697 Shares of InMode Ltd. $INMD

Steel Partners Holdings L.P. lifted its stake in shares of InMode Ltd. (NASDAQ:INMD) by 154.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,795,361 shares of the healthcare company’s stock after purchasing an additional 1,090,697 shares during the quarter. InMode accounts for about 25.5% of Steel Partners Holdings L.P.’s portfolio, making the stock its largest position. Steel Partners Holdings L.P.’s holdings in InMode were worth $24,561,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in InMode by 5.7% during the 1st quarter. Royal Bank of Canada now owns 242,398 shares of the healthcare company’s stock worth $4,299,000 after buying an additional 13,032 shares during the period. AQR Capital Management LLC bought a new position in InMode during the 1st quarter worth $317,000. Goldman Sachs Group Inc. raised its position 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. American Century Companies Inc. lifted its holdings in InMode by 132.9% during the 2nd quarter. American Century Companies Inc. now owns 44,240 shares of the healthcare company’s stock worth $639,000 after buying an additional 25,246 shares during the period. Finally, Marshall Wace LLP lifted its holdings in InMode by 270.7% during the 2nd quarter. Marshall Wace LLP now owns 555,573 shares of the healthcare company’s stock worth $8,022,000 after buying an additional 405,707 shares during the period. Institutional investors own 68.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Barclays set a $19.00 price target on InMode and gave the company an “overweight” rating in a research note on Thursday, May 7th. Robert W. Baird reduced their target price on InMode from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. One research 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 data from MarketBeat, InMode currently has a consensus rating of “Hold” and an average target price of $16.00.

InMode Price Performance

INMD opened at $15.17 on Monday. InMode Ltd. has a twelve month low of $12.72 and a twelve month high of $16.74. The company has a fifty day moving average of $14.25 and a 200-day moving average of $14.20. The stock has a market cap of $871.97 million, a PE ratio of 11.15 and a beta of 1.91.

InMode (NASDAQ:INMD) last released its earnings results on Wednesday, May 6th. The healthcare company reported $0.25 earnings per share (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%. InMode’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 EPS.

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.