Lazard Asset Management LLC Grows Stock Position in InMode Ltd. $INMD

Lazard Asset Management LLC grew its stake in InMode Ltd. (NASDAQ:INMD) by 187.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,530 shares of the healthcare company’s stock after buying an additional 33,575 shares during the quarter. Lazard Asset Management LLC’s holdings in InMode were worth $705,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of INMD. Deutsche Bank AG grew its holdings in InMode by 35.9% during the fourth quarter. Deutsche Bank AG now owns 3,927 shares of the healthcare company’s stock worth $58,000 after acquiring an additional 1,037 shares during the period. Quadrant Capital Group LLC lifted its holdings in InMode by 127.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,945 shares of the healthcare company’s stock valued at $29,000 after acquiring an additional 1,091 shares during the period. Inspire Investing LLC lifted its holdings in InMode by 6.1% in the first quarter. Inspire Investing LLC now owns 19,366 shares of the healthcare company’s stock valued at $265,000 after acquiring an additional 1,111 shares during the period. Leonteq Securities AG purchased a new stake in InMode in the 4th quarter worth approximately $26,000. Finally, Plan A Wealth LLC boosted its position in InMode by 16.2% in the 4th quarter. Plan A Wealth LLC now owns 12,878 shares of the healthcare company’s stock worth $189,000 after purchasing an additional 1,793 shares in the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

Wall Street Analyst Weigh In

INMD has been the topic of a number of analyst reports. Robert W. Baird dropped their price objective on shares of InMode from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Barclays set a $19.00 price target on shares of InMode and gave the stock an “overweight” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, InMode has an average rating of “Hold” and an average target price of $16.00.

InMode Stock Down 1.0%

Shares of InMode stock opened at $15.21 on Thursday. InMode Ltd. has a twelve month low of $12.72 and a twelve month high of $16.74. The business has a 50-day moving average price of $14.47 and a 200 day moving average price of $14.24. The firm has a market cap of $874.27 million, a PE ratio of 11.18 and a beta of 1.89.

InMode (NASDAQ:INMD) last issued its quarterly earnings results on Thursday, August 6th. The healthcare company reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. InMode had a return on equity of 13.47% and a net margin of 23.27%.The company had revenue of $95.59 million for the quarter, compared to the consensus estimate of $93.70 million. During the same quarter in the prior year, the business posted $0.47 earnings per share. InMode’s revenue for the quarter was up .0% on a year-over-year basis.

InMode Profile

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.