Meritage Portfolio Management Purchases 16,235 Shares of InMode Ltd. (NASDAQ:INMD)

Meritage Portfolio Management increased its position in shares of InMode Ltd. (NASDAQ:INMD) by 86.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,975 shares of the healthcare company’s stock after purchasing an additional 16,235 shares during the period. Meritage Portfolio Management’s holdings in InMode were worth $778,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in INMD. Exchange Traded Concepts LLC purchased a new stake in InMode in the 3rd quarter valued at about $27,000. Carmel Capital Partners LLC bought a new position in shares of InMode during the 3rd quarter worth approximately $36,000. Newbridge Financial Services Group Inc. acquired a new position in InMode during the 3rd quarter valued at approximately $40,000. Sunbelt Securities Inc. acquired a new position in InMode during the 3rd quarter valued at approximately $47,000. Finally, CWM LLC boosted its holdings in shares of InMode by 38.3% in the 4th quarter. CWM LLC now owns 2,454 shares of the healthcare company’s stock valued at $55,000 after acquiring an additional 680 shares during the last quarter. 68.04% of the stock is owned by hedge funds and other institutional investors.

InMode Stock Up 0.9 %

INMD stock traded up $0.15 during mid-day trading on Friday, hitting $17.17. 583,473 shares of the company were exchanged, compared to its average volume of 1,562,973. The business has a fifty day simple moving average of $20.43 and a 200-day simple moving average of $21.66. InMode Ltd. has a 12-month low of $16.82 and a 12-month high of $48.25. The firm has a market capitalization of $1.44 billion, a P/E ratio of 7.40 and a beta of 2.16.

InMode (NASDAQ:INMD) last posted its quarterly earnings data on Tuesday, February 13th. The healthcare company reported $0.71 EPS 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 business had revenue of $126.80 million during the quarter, compared to analyst estimates of $124.77 million. During the same quarter last year, the firm posted $0.69 earnings per share. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. Research analysts predict that InMode Ltd. will post 2.04 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on INMD. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a report on Tuesday, April 9th. UBS Group upped their price objective on shares of InMode from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Finally, Barclays dropped their price objective on shares of InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to 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.