Bares Capital Management Inc. Increases Stake in InMode Ltd., Reinforcing Positive Outlook for Innovative Healthcare Company

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New York-based investment firm, Bares Capital Management Inc., has recently increased its stake in InMode Ltd. (NASDAQ:INMD) by 50.9% during the first quarter, according to a recent filing with the Securities and Exchange Commission. The institutional investor now owns 230,000 shares of the healthcare company’s stock, representing an additional 77,600 shares purchased during this period. At the end of the reporting period, Bares Capital Management Inc.’s stake in InMode was estimated to be worth $7,351,000.

InMode (NASDAQ:INMD) announced its most recent earnings results on July 27th. The healthcare company reported earnings per share (EPS) of $0.65 for the quarter, meeting analysts’ consensus estimates. Additionally, InMode achieved a net margin of 36.77% and a return on equity of 35.03%. The quarter saw revenue totaling $136.08 million, slightly exceeding analysts’ expectations of $135.80 million.

In essence, InMode Ltd is a global leader in designing, developing, manufacturing and marketing minimally invasive aesthetic medical products. These products are based on their proprietary radiofrequency assisted lipolysis and deep subdermal fractional radiofrequency technologies which are implemented both within the United States and internationally.

The array of minimally invasive aesthetic medical products offered by InMode include procedures such as liposuction with simultaneous skin tightening for body contouring purposes and ablative skin rejuvenation treatments that are in high demand worldwide.

Furthermore, these products have also found utility in addressing women’s health conditions and procedures. The company’s commitment to innovation and patient satisfaction contributes to its worldwide reputation as a trusted provider within the industry.

Looking ahead into the future projections for InMode Ltd., research analysts suggest that it will post an EPS of approximately 2.45 for the current year.

Overall, as reflected by Bares Capital Management Inc.’s increased stake in InMode and the positive financial outlook, it is clear that InMode Ltd. is positioned strongly within the market for minimally invasive medical aesthetic products. With its focus on innovation and commitment to customer satisfaction, InMode continues to be a key player in the industry. Investors and shareholders alike can anticipate further growth from this healthcare company in the forthcoming years.

InMode Ltd.

INMD

Buy

Updated on: 15/09/2023

Price Target

Current $34.32

Concensus $64.00


Low $0.00

Median $58.00

High $0.00

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Social Sentiments

4:00 PM (UTC)

Date:15 September, 2023

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Analyst Ratings

Analyst / firm Rating
Barclays Buy
Needham Buy
Matthew Taylor
UBS
Buy

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InMode Ltd. Attracts Attention of Large Investors Amidst Positive Analyst Ratings


InMode Ltd. (INMD), a healthcare company specializing in innovative medical technologies, has recently captured the attention of several large investors. Global Retirement Partners LLC, a prominent investment firm, significantly increased its holdings in InMode by an astonishing 969.0% during the first quarter of this year. This move resulted in Global Retirement Partners now owning 1,069 shares of InMode’s stock, with a market value estimated at $36,000 after purchasing an additional 969 shares in the last quarter.

Furthermore, Belpointe Asset Management LLC acquired a new stake in InMode during the fourth quarter of last year, valued at $37,000. Similarly, CoreCap Advisors LLC and Venturi Wealth Management LLC both obtained new stakes in the company during the same period for $37,000 and $38,000 respectively. Brown Brothers Harriman & Co., another well-known investor purchased a new position in InMode during the first quarter for approximately $41,000. Currently, institutional investors and hedge funds collectively own 65.49% of the stock.

Shares of INMD stock opened at $37.79 on September 12th. The company’s one-year low was recorded at $26.10 while its one-year high stands at $48.25. As for its short-term moving averages, the stock is currently trading above its 50-day simple moving average of $40.99 and has surpassed its 200-day simple moving average of $36.56 as well. With a market capitalization of $3.14 billion and a price-to-earnings ratio of 17.66 coupled with a beta value of 2.11.

A number of analyst reports have previously evaluated INMD’s performance in the market space as well as provided price objectives for its shares based on various factors such as future growth potential and financial indicators among others.

Robert W Baird analysts upped their price objective to $61.00 from the previous $53.00 and gave InMode an “outperform” rating in their July 28th research report. Barclays also raised its price objective on the company’s shares from $47.00 to $54.00, giving it an “overweight” rating in their research report released on August 1st. Another highly regarded firm, Canaccord Genuity Group, increased its price objective for INMD from $47.00 to $55.00 and provided a “buy” rating for the stock in their research report published on July 28th.

At present, based on data from Bloomberg.com, InMode has garnered a consensus rating of “Moderate Buy” across multiple analyst reports, with an average target price of $51.67.

In conclusion, InMode Ltd. is undergoing significant changes in terms of its ownership structure as large investors add to or reduce their stakes in the company. With its recent surge in attention from investors, coupled with positive ratings from analysts and favorable future prospects, it will be intriguing to see how InMode continues to shape the healthcare industry moving forward.


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