CWA Asset Management Group LLC Boosts Holdings in InMode Ltd. (NASDAQ:INMD)

CWA Asset Management Group LLC grew its stake in InMode Ltd. (NASDAQ:INMD) by 24.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,434 shares of the healthcare company’s stock after buying an additional 5,473 shares during the period. CWA Asset Management Group LLC’s holdings in InMode were worth $487,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in shares of InMode in the fourth quarter worth $65,000. SBI Securities Co. Ltd. acquired a new stake in InMode during the fourth quarter valued at $87,000. Farther Finance Advisors LLC grew its position in InMode by 26.2% during the fourth quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company’s stock valued at $93,000 after buying an additional 1,154 shares during the period. Covestor Ltd grew its position in InMode by 13.9% during the fourth quarter. Covestor Ltd now owns 5,936 shares of the healthcare company’s stock valued at $99,000 after buying an additional 723 shares during the period. Finally, Lazard Asset Management LLC grew its position in InMode by 6,128.7% during the fourth quarter. Lazard Asset Management LLC now owns 6,291 shares of the healthcare company’s stock valued at $105,000 after buying an additional 6,190 shares during the period. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Stock Down 0.4%

Shares of NASDAQ INMD opened at $13.28 on Friday. The company’s 50-day simple moving average is $14.51 and its 200-day simple moving average is $16.56. InMode Ltd. has a 52-week low of $13.16 and a 52-week high of $19.85. The firm has a market cap of $839.42 million, a price-to-earnings ratio of 5.70 and a beta of 1.98.

InMode (NASDAQ:INMD) last announced its earnings results on Monday, April 28th. The healthcare company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.14). InMode had a net margin of 44.79% and a return on equity of 17.17%. The company had revenue of $77.87 million during the quarter, compared to analyst estimates of $82.21 million. During the same quarter last year, the business earned $0.32 EPS. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. Equities research analysts anticipate that InMode Ltd. will post 1.75 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Baird R W lowered shares of InMode from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. Canaccord Genuity Group dropped their price target on shares of InMode from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, April 29th. Needham & Company LLC restated a “hold” rating on shares of InMode in a research report on Monday, April 28th. UBS Group dropped their price target on shares of InMode from $19.00 to $16.25 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Finally, BTIG Research lowered shares of InMode from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $18.54.

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.