Tributary Capital Management LLC Invests $65,000 in InMode Ltd. (NASDAQ:INMD)

Tributary Capital Management LLC purchased a new position in shares of InMode Ltd. (NASDAQ:INMD) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,000 shares of the healthcare company’s stock, valued at approximately $65,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Securities Inc. bought a new position in shares of InMode during the 4th quarter worth $32,000. Duality Advisers LP bought a new stake in InMode during the fourth quarter valued at about $1,773,000. Doma Perpetual Capital Management LLC bought a new stake in InMode during the fourth quarter valued at about $2,991,000. Envestnet Asset Management Inc. boosted its position in InMode by 45.0% during the third quarter. Envestnet Asset Management Inc. now owns 164,928 shares of the healthcare company’s stock valued at $5,024,000 after purchasing an additional 51,181 shares in the last quarter. Finally, M&G Investment Management Ltd. bought a new stake in InMode during the fourth quarter valued at about $8,041,000. Institutional investors own 68.04% of the company’s stock.

Analyst Ratings Changes

INMD has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research report on Friday, May 3rd. Barclays dropped their price objective on InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Four 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, InMode currently has a consensus rating of “Hold” and a consensus target price of $32.80.

InMode Stock Performance

Shares of NASDAQ INMD opened at $17.41 on Wednesday. The company has a market cap of $1.46 billion, a PE ratio of 8.25 and a beta of 2.18. The business has a 50-day simple moving average of $18.23 and a two-hundred day simple moving average of $20.46. InMode Ltd. has a fifty-two week low of $16.72 and a fifty-two week high of $48.25.

InMode (NASDAQ:INMD) last issued its quarterly earnings results on Thursday, May 2nd. The healthcare company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.09. The business had revenue of $80.28 million during the quarter, compared to the consensus estimate of $80.10 million. InMode had a return on equity of 26.15% and a net margin of 38.84%. On average, sell-side analysts predict that InMode Ltd. will post 1.8 earnings per share for the current fiscal year.

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.