Allspring Global Investments Holdings LLC Grows Holdings in InMode Ltd. (NASDAQ:INMD)

Allspring Global Investments Holdings LLC grew its holdings in InMode Ltd. (NASDAQ:INMD) by 9.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,645 shares of the healthcare company’s stock after purchasing an additional 691 shares during the period. Allspring Global Investments Holdings LLC’s holdings in InMode were worth $165,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Securities Inc. purchased a new stake in InMode in the fourth quarter worth $32,000. Sunbelt Securities Inc. purchased a new position in shares of InMode during the third quarter valued at $47,000. Trust Co. of Vermont increased its stake in shares of InMode by 32.8% during the fourth quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock valued at $48,000 after buying an additional 536 shares during the period. Newbridge Financial Services Group Inc. increased its stake in shares of InMode by 69.2% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,200 shares of the healthcare company’s stock valued at $49,000 after buying an additional 900 shares during the period. Finally, CWM LLC increased its stake in shares of InMode by 38.3% during the fourth quarter. CWM LLC now owns 2,454 shares of the healthcare company’s stock valued at $55,000 after buying an additional 680 shares during the period. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Price Performance

INMD opened at $16.82 on Friday. The business’s 50-day moving average is $18.24 and its two-hundred day moving average is $20.24. InMode Ltd. has a 1 year low of $16.44 and a 1 year high of $48.25. The firm has a market capitalization of $1.41 billion, a PE ratio of 7.97 and a beta of 2.18.

InMode (NASDAQ:INMD) last posted its earnings results on Thursday, May 2nd. The healthcare company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.09. The company had revenue of $80.28 million for the quarter, compared to analyst estimates of $80.10 million. InMode had a return on equity of 26.15% and a net margin of 38.84%. As a group, sell-side analysts expect that InMode Ltd. will post 1.8 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on INMD. Needham & Company LLC restated a “hold” rating on shares of InMode in a research note on Thursday. Barclays cut their price target on InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $32.80.

InMode Company 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.