ARK Investment Management LLC Grows Position in InMode Ltd. (NASDAQ:INMD)

ARK Investment Management LLC raised its holdings in shares of InMode Ltd. (NASDAQ:INMDGet Rating) by 29.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,637 shares of the healthcare company’s stock after purchasing an additional 16,552 shares during the quarter. ARK Investment Management LLC owned approximately 0.09% of InMode worth $1,974,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Anderson Hoagland & Co. bought a new stake in shares of InMode during the second quarter valued at about $1,366,000. Nkcfo LLC increased its position in shares of InMode by 291.7% during the second quarter. Nkcfo LLC now owns 9,400 shares of the healthcare company’s stock valued at $211,000 after buying an additional 7,000 shares during the period. Bank of America Corp DE increased its position in shares of InMode by 58.7% during the first quarter. Bank of America Corp DE now owns 89,928 shares of the healthcare company’s stock valued at $3,319,000 after buying an additional 33,275 shares during the period. Verition Fund Management LLC increased its position in shares of InMode by 634.6% in the first quarter. Verition Fund Management LLC now owns 32,809 shares of the healthcare company’s stock worth $1,211,000 after purchasing an additional 28,343 shares during the last quarter. Finally, Walleye Capital LLC increased its position in shares of InMode by 250.0% in the first quarter. Walleye Capital LLC now owns 124,038 shares of the healthcare company’s stock worth $4,578,000 after purchasing an additional 88,600 shares during the last quarter. 54.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INMD has been the topic of several research analyst reports. Canaccord Genuity Group decreased their price objective on shares of InMode from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, June 30th. Robert W. Baird upped their price objective on shares of InMode from $44.00 to $53.00 in a research report on Friday, July 29th. Canaccord Genuity Group decreased their price objective on shares of InMode from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, June 30th. TheStreet upgraded shares of InMode from a “d+” rating to a “b-” rating in a research report on Tuesday, August 9th. Finally, Needham & Company LLC upped their price objective on shares of InMode from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $63.00.

InMode Price Performance

Shares of NASDAQ INMD opened at $31.90 on Tuesday. InMode Ltd. has a one year low of $20.60 and a one year high of $99.27. The firm’s 50 day simple moving average is $32.31 and its two-hundred day simple moving average is $29.94. The stock has a market capitalization of $2.66 billion, a P/E ratio of 15.87 and a beta of 2.31.

InMode (NASDAQ:INMDGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The healthcare company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. InMode had a net margin of 42.66% and a return on equity of 41.50%. The business had revenue of $113.55 million for the quarter, compared to analysts’ expectations of $103.00 million. During the same period last year, the business earned $1.02 earnings per share. The business’s quarterly revenue was up 30.0% on a year-over-year basis.

InMode Company Profile

(Get Rating)

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.

Recommended Stories

Want to see what other hedge funds are holding INMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for InMode Ltd. (NASDAQ:INMDGet Rating).

Institutional Ownership by Quarter for InMode (NASDAQ:INMD)

Receive News & Ratings for InMode Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InMode and related companies with MarketBeat.com's FREE daily email newsletter.