P.A.W. Capital Corp Reduces Stock Holdings in InMode Ltd. (NASDAQ:INMD)

P.A.W. Capital Corp lessened its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 28.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,000 shares of the healthcare company’s stock after selling 40,000 shares during the period. InMode accounts for approximately 3.8% of P.A.W. Capital Corp’s holdings, making the stock its 10th biggest position. P.A.W. Capital Corp owned 0.12% of InMode worth $1,695,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Renaissance Technologies LLC boosted its holdings in shares of InMode by 11.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,068,396 shares of the healthcare company’s stock valued at $37,728,000 after buying an additional 214,200 shares in the last quarter. Doma Perpetual Capital Management LLC raised its position in shares of InMode by 210.7% in the 2nd quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company’s stock worth $36,685,000 after purchasing an additional 1,363,841 shares during the last quarter. DDD Partners LLC raised its position in shares of InMode by 19.4% in the 2nd quarter. DDD Partners LLC now owns 1,266,678 shares of the healthcare company’s stock worth $23,104,000 after purchasing an additional 205,947 shares during the last quarter. Federated Hermes Inc. raised its position in shares of InMode by 191.9% in the 2nd quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock worth $20,520,000 after purchasing an additional 739,629 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position 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 purchasing an additional 437,122 shares during the last quarter. Institutional investors own 68.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group lowered their price target on InMode from $21.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Barclays lowered their price target on InMode from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Jefferies Financial Group lowered 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. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research report on Thursday. Finally, BTIG Research initiated coverage on InMode in a research report on Thursday, October 17th. They issued a “buy” rating and a $25.00 target price for the company. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $22.60.

InMode Stock Up 1.1 %

NASDAQ INMD opened at $17.26 on Friday. InMode Ltd. has a 52 week low of $14.87 and a 52 week high of $26.80. The firm has a market capitalization of $1.45 billion, a P/E ratio of 9.33 and a beta of 2.17. The company has a 50-day moving average price of $16.65 and a 200-day moving average price of $17.34.

InMode (NASDAQ:INMD) last released its quarterly earnings results on Thursday, August 1st. The healthcare company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.04). InMode had a net margin of 36.26% and a return on equity of 21.04%. The business had revenue of $102.60 million for the quarter, compared to analysts’ expectations of $104.81 million. During the same period in the previous year, the company earned $0.65 EPS. InMode’s revenue for the quarter was down 24.6% compared to the same quarter last year. As a group, equities research analysts anticipate that InMode Ltd. will post 1.58 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.