Avalon Investment & Advisory lessened its stake in shares of InMode Ltd. (NASDAQ:INMD) by 22.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 101,595 shares of the healthcare company’s stock after selling 29,565 shares during the period. Avalon Investment & Advisory owned 0.32% of InMode worth $2,877,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the stock. Huntington National Bank bought a new stake in shares of InMode in the 2nd quarter worth $28,000. Signaturefd LLC bought a new position in InMode during the second quarter valued at about $28,000. Edmond DE Rothschild Holding S.A. bought a new position in InMode during the second quarter valued at about $37,000. Tower Research Capital LLC TRC bought a new position in InMode during the first quarter worth about $36,000. Finally, PNC Financial Services Group Inc. bought a new position in InMode during the second quarter worth about $50,000. Institutional investors own 16.14% of the company’s stock.
A number of brokerages have weighed in on INMD. Canaccord Genuity cut their target price on shares of InMode from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Zacks Investment Research upgraded shares of InMode from a “sell” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Wednesday, August 12th. UBS Group cut their target price on shares of InMode from $46.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, Barclays increased their target price on shares of InMode from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday. Five investment analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus price target of $42.00.
Shares of INMD traded down $1.43 during mid-day trading on Thursday, hitting $32.95. 22,570 shares of the stock were exchanged, compared to its average volume of 532,017. The company has a market cap of $1.09 billion and a PE ratio of 26.90. InMode Ltd. has a 52-week low of $13.14 and a 52-week high of $58.76. The firm has a 50-day moving average of $31.25 and a two-hundred day moving average of $29.54.
InMode (NASDAQ:INMD) last issued its quarterly earnings data on Wednesday, August 5th. The healthcare company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.43. The business had revenue of $30.80 million for the quarter, compared to analysts’ expectations of $30.41 million. InMode had a return on equity of 27.15% and a net margin of 31.76%. The firm’s revenue for the quarter was down 20.6% compared to the same quarter last year. On average, analysts predict that InMode Ltd. will post 1.04 EPS for the current fiscal year.
InMode Company Profile
InMode Ltd. designs, develops, manufactures, and markets minimally-invasive aesthetic medical products based on its proprietary radio frequency assisted lipolysis and deep subdermal fractional radio frequency technologies. The company offers minimally-invasive aesthetic medical products for procedures, such as liposuction with simultaneous skin tightening, body and face contouring, and ablative skin rejuvenation treatments.
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