Duality Advisers LP Purchases New Position in InMode Ltd. (NASDAQ:INMD)

Duality Advisers LP acquired a new position in InMode Ltd. (NASDAQ:INMD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 79,714 shares of the healthcare company’s stock, valued at approximately $1,773,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Exchange Traded Concepts LLC acquired a new position in shares of InMode in the 3rd quarter valued at $27,000. Carmel Capital Partners LLC acquired a new position in shares of InMode in the third quarter worth about $36,000. Newbridge Financial Services Group Inc. acquired a new position in shares of InMode in the third quarter worth about $40,000. Sunbelt Securities Inc. purchased a new stake in shares of InMode during the 3rd quarter worth about $47,000. Finally, CWM LLC grew its position in shares of InMode by 38.3% during the 4th quarter. CWM LLC now owns 2,454 shares of the healthcare company’s stock valued at $55,000 after acquiring an additional 680 shares during the period. Institutional investors and hedge funds own 68.04% of the company’s stock.

InMode Trading Down 1.6 %

NASDAQ:INMD opened at $17.14 on Tuesday. The stock has a 50 day moving average of $20.80 and a two-hundred day moving average of $21.80. InMode Ltd. has a 12 month low of $16.96 and a 12 month high of $48.25. The firm has a market cap of $1.44 billion, a P/E ratio of 7.45 and a beta of 2.16.

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 analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $126.80 million for the quarter, compared to analyst estimates of $124.77 million. InMode had a net margin of 40.22% and a return on equity of 29.80%. The business’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the company posted $0.69 EPS. On average, research analysts forecast that InMode Ltd. will post 2.04 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. UBS Group increased their price target on InMode from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Barclays reduced their target price on InMode from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of InMode in a research note on Tuesday, April 9th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.80.

About InMode

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.