Raymond James & Associates Sells 29,989 Shares of InMode Ltd. (NASDAQ:INMD)

Raymond James & Associates decreased its stake in shares of InMode Ltd. (NASDAQ:INMD) by 24.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,622 shares of the healthcare company’s stock after selling 29,989 shares during the quarter. Raymond James & Associates owned approximately 0.11% of InMode worth $2,015,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC bought a new stake in InMode during the 3rd quarter valued at about $27,000. Brown Brothers Harriman & Co. bought a new stake in shares of InMode in the 1st quarter valued at about $41,000. Carmel Capital Partners LLC bought a new stake in shares of InMode in the 3rd quarter valued at about $36,000. Newbridge Financial Services Group Inc. bought a new stake in shares of InMode in the 3rd quarter valued at about $40,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of InMode by 97.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,472 shares of the healthcare company’s stock valued at $45,000 after purchasing an additional 725 shares in the last quarter. Institutional investors own 68.04% of the company’s stock.

Analyst Ratings Changes

INMD has been the subject of several recent research reports. Barclays reduced their price target on shares of InMode from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research note on Tuesday, April 9th. Finally, UBS Group boosted their price objective on shares of InMode from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $32.80.

InMode Stock Down 0.4 %

NASDAQ INMD opened at $17.62 on Wednesday. The firm has a market cap of $1.48 billion, a PE ratio of 7.66 and a beta of 2.16. InMode Ltd. has a 52 week low of $17.29 and a 52 week high of $48.25. The company has a 50 day moving average price of $21.47 and a 200 day moving average price of $22.13.

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

InMode Company 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.