Ausbil Investment Management Ltd Decreases Stock Position in InMode Ltd. (NASDAQ:INMD)

Ausbil Investment Management Ltd lessened its stake in shares of InMode Ltd. (NASDAQ:INMD) by 22.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,500 shares of the healthcare company’s stock after selling 14,267 shares during the quarter. InMode comprises about 1.2% of Ausbil Investment Management Ltd’s investment portfolio, making the stock its 19th biggest holding. Ausbil Investment Management Ltd’s holdings in InMode were worth $1,886,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

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

InMode Trading Up 0.6 %

Shares of INMD traded up $0.21 during midday trading on Monday, reaching $34.20. 307,443 shares of the company were exchanged, compared to its average volume of 1,446,959. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 16.04 and a beta of 2.11. The stock has a 50-day moving average price of $40.78 and a 200-day moving average price of $36.57. InMode Ltd. has a 1-year low of $26.10 and a 1-year high of $48.25.

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

InMode Profile

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.