Mirae Asset Global Investments Co. Ltd. Raises Holdings in InMode Ltd. (NASDAQ:INMD)

Mirae Asset Global Investments Co. Ltd. increased its stake in InMode Ltd. (NASDAQ:INMD) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,643 shares of the healthcare company’s stock after acquiring an additional 701 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in InMode were worth $793,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INMD. Exchange Traded Concepts LLC purchased a new position in InMode in the third quarter worth about $27,000. Carmel Capital Partners LLC purchased a new position in InMode in the third quarter worth about $36,000. Newbridge Financial Services Group Inc. purchased a new position in InMode in the third quarter worth about $40,000. Sunbelt Securities Inc. purchased a new position in InMode in the third quarter worth about $47,000. Finally, NBC Securities Inc. purchased a new position in InMode in the third quarter worth about $79,000. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Price Performance

Shares of NASDAQ INMD opened at $17.36 on Thursday. The company has a market cap of $1.46 billion, a P/E ratio of 7.55 and a beta of 2.16. InMode Ltd. has a 1 year low of $16.96 and a 1 year high of $48.25. The firm has a 50-day simple moving average of $20.57 and a two-hundred day simple moving average of $21.69.

InMode (NASDAQ:INMD) last posted its quarterly earnings results on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. InMode had a net margin of 40.22% and a return on equity of 29.80%. The firm had revenue of $126.80 million during the quarter, compared to the consensus estimate of $124.77 million. During the same quarter in the previous year, the firm posted $0.69 earnings per share. The company’s revenue was down 5.1% on a year-over-year basis. As a group, equities research analysts expect that InMode Ltd. will post 2.04 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the company. UBS Group lifted their price target on InMode from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Barclays decreased their price objective on shares of InMode from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of InMode in a research note on Tuesday, April 9th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $32.80.

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.