72,676 Shares in InMode Ltd. (NASDAQ:INMD) Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. bought a new position in shares of InMode Ltd. (NASDAQ:INMD) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 72,676 shares of the healthcare company’s stock, valued at approximately $1,289,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INMD. CWM LLC lifted its stake in shares of InMode by 106.4% in the first quarter. CWM LLC now owns 2,369 shares of the healthcare company’s stock worth $42,000 after acquiring an additional 1,221 shares during the period. Orion Capital Management LLC bought a new position in InMode during the 4th quarter worth approximately $65,000. Covestor Ltd lifted its position in shares of InMode by 13.9% in the 4th quarter. Covestor Ltd now owns 5,936 shares of the healthcare company’s stock worth $99,000 after purchasing an additional 723 shares during the period. Lazard Asset Management LLC boosted its stake in shares of InMode by 6,128.7% in the 4th quarter. Lazard Asset Management LLC now owns 6,291 shares of the healthcare company’s stock valued at $105,000 after purchasing an additional 6,190 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of InMode in the 4th quarter valued at $114,000. 68.04% of the stock is currently owned by institutional investors and hedge funds.

InMode Trading Down 2.9%

Shares of NASDAQ INMD opened at $13.90 on Thursday. The firm has a market capitalization of $878.62 million, a P/E ratio of 5.97 and a beta of 1.95. The firm’s 50-day moving average price is $14.35 and its 200-day moving average price is $16.00. InMode Ltd. has a 1-year low of $13.14 and a 1-year high of $19.85.

InMode (NASDAQ:INMD) last posted its quarterly earnings results on Wednesday, July 30th. The healthcare company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The firm had revenue of $95.60 million for the quarter, compared to analyst estimates of $98.45 million. InMode had a return on equity of 17.17% and a net margin of 44.79%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted $0.34 earnings per share. Equities research analysts forecast that InMode Ltd. will post 1.75 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. UBS Group dropped their target price on shares of InMode from $19.00 to $16.25 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Canaccord Genuity Group reissued a “hold” rating and issued a $15.00 price objective on shares of InMode in a research report on Friday, July 11th. BTIG Research lowered InMode from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 29th. Robert W. Baird cut InMode from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $22.00 to $16.00 in a research note on Monday, April 28th. Finally, Jefferies Financial Group dropped their price target on InMode from $16.00 to $15.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $18.04.

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.