Anderson Hoagland & Co. Boosts Stake in InMode Ltd. (NASDAQ:INMD)

Anderson Hoagland & Co. lifted its stake in InMode Ltd. (NASDAQ:INMD) by 20.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,448 shares of the healthcare company’s stock after acquiring an additional 12,141 shares during the period. Anderson Hoagland & Co. owned 0.09% of InMode worth $2,669,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Global Retirement Partners LLC lifted its holdings in InMode by 969.0% during the first quarter. Global Retirement Partners LLC now owns 1,069 shares of the healthcare company’s stock valued at $36,000 after purchasing an additional 969 shares in the last quarter. Belpointe Asset Management LLC acquired a new position in shares of InMode during the fourth quarter valued at approximately $37,000. CoreCap Advisors LLC purchased a new position in shares of InMode in the fourth quarter valued at approximately $37,000. Venturi Wealth Management LLC acquired a new stake in shares of InMode in the first quarter worth approximately $38,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of InMode during the first quarter worth approximately $41,000. 65.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INMD has been the topic of a number of research reports. Robert W. Baird raised their price objective on InMode from $53.00 to $61.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Canaccord Genuity Group raised their target price on shares of InMode from $47.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, Barclays increased their price target on InMode from $47.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, August 1st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, InMode currently has an average rating of “Moderate Buy” and an average price target of $51.67.

InMode Price Performance

INMD traded down $0.41 during trading hours on Friday, reaching $34.50. The company’s stock had a trading volume of 331,503 shares, compared to its average volume of 1,448,260. The stock has a market cap of $2.86 billion, a PE ratio of 16.31 and a beta of 2.11. InMode Ltd. has a fifty-two week low of $26.10 and a fifty-two week high of $48.25. The business’s 50-day moving average is $40.86 and its 200-day moving average is $36.55.

InMode (NASDAQ:INMD) last released its quarterly earnings results on Thursday, July 27th. The healthcare company reported $0.65 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.65. The business had revenue of $136.08 million during the quarter, compared to analysts’ expectations of $135.80 million. InMode had a return on equity of 35.03% and a net margin of 36.77%. Analysts expect that InMode Ltd. will post 2.45 EPS for the current year.

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.