State of Wyoming Buys Shares of 42,466 InMode Ltd. $INMD

State of Wyoming bought a new stake in InMode Ltd. (NASDAQ:INMD) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 42,466 shares of the healthcare company’s stock, valued at approximately $624,000. State of Wyoming owned about 0.07% of InMode as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of INMD. Royal Bank of Canada raised its position in shares of InMode by 5.7% in the first quarter. Royal Bank of Canada now owns 242,398 shares of the healthcare company’s stock valued at $4,299,000 after purchasing an additional 13,032 shares during the period. AQR Capital Management LLC bought a new stake in shares of InMode in the first quarter valued at approximately $317,000. Goldman Sachs Group Inc. raised its position in shares of InMode by 234.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company’s stock valued at $19,935,000 after purchasing an additional 788,157 shares during the period. American Century Companies Inc. raised its position in shares of InMode by 132.9% in the second quarter. American Century Companies Inc. now owns 44,240 shares of the healthcare company’s stock valued at $639,000 after purchasing an additional 25,246 shares during the period. Finally, Marshall Wace LLP raised its position in shares of InMode by 270.7% in the second quarter. Marshall Wace LLP now owns 555,573 shares of the healthcare company’s stock valued at $8,022,000 after purchasing an additional 405,707 shares during the period. Institutional investors own 68.04% of the company’s stock.

InMode Trading Down 0.6%

InMode stock opened at $13.54 on Friday. The firm’s 50 day simple moving average is $13.93 and its 200 day simple moving average is $14.18. The firm has a market capitalization of $857.88 million, a PE ratio of 9.96 and a beta of 1.94. InMode Ltd. has a 1-year low of $12.72 and a 1-year high of $16.74.

InMode (NASDAQ:INMD) last posted its earnings results on Wednesday, May 6th. The healthcare company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). The firm had revenue of $82.02 million for the quarter, compared to the consensus estimate of $79.84 million. InMode had a return on equity of 13.47% and a net margin of 23.27%.The business’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Robert W. Baird lowered their price target on shares of InMode from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Barclays set a $19.00 price target on shares of InMode and gave the company an “overweight” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $16.00.

About InMode

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.