225,000 Shares in InMode Ltd. (NASDAQ:INMD) Bought by Lombard Odier Asset Management Europe Ltd

Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of InMode Ltd. (NASDAQ:INMD) during the 2nd quarter, HoldingsChannel reports. The firm acquired 225,000 shares of the healthcare company’s stock, valued at approximately $4,104,000.

Several other large investors have also bought and sold shares of INMD. Swedbank AB bought a new stake in InMode during the first quarter worth $17,634,000. Federated Hermes Inc. increased its position in shares of InMode by 191.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock valued at $20,520,000 after purchasing an additional 739,629 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of InMode by 63.6% in the 2nd quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company’s stock worth $20,502,000 after buying an additional 437,122 shares during the last quarter. Norges Bank bought a new position in InMode during the fourth quarter valued at about $8,890,000. Finally, Nordea Investment Management AB grew its position in InMode by 161.1% during the first quarter. Nordea Investment Management AB now owns 361,701 shares of the healthcare company’s stock valued at $7,853,000 after buying an additional 223,191 shares during the period. 68.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

INMD has been the topic of several research reports. Barclays lowered their price objective on shares of InMode from $33.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research note on Thursday, July 11th. Jefferies Financial Group downgraded InMode from a “buy” rating to a “hold” rating and decreased their target price for the stock from $21.00 to $19.00 in a research report on Tuesday, July 23rd. Finally, Canaccord Genuity Group lowered their price target on shares of InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.40.

InMode Stock Down 1.8 %

Shares of NASDAQ INMD opened at $17.42 on Monday. The company has a market cap of $1.46 billion, a P/E ratio of 8.26 and a beta of 2.17. InMode Ltd. has a 52 week low of $15.39 and a 52 week high of $33.62. The business has a 50-day simple moving average of $16.78 and a two-hundred day simple moving average of $18.09.

InMode (NASDAQ:INMD) last released its quarterly earnings data on Thursday, August 1st. The healthcare company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). The firm had revenue of $102.60 million during the quarter, compared to the consensus estimate of $104.81 million. InMode had a net margin of 35.81% and a return on equity of 21.00%. InMode’s revenue was down 24.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. Equities research analysts anticipate that InMode Ltd. will post 1.63 EPS for the current year.

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.