InMode Ltd. (NASDAQ:INMD) Stake Lessened by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its stake in shares of InMode Ltd. (NASDAQ:INMDGet Rating) by 35.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,645 shares of the healthcare company’s stock after selling 10,407 shares during the quarter. Janney Montgomery Scott LLC’s holdings in InMode were worth $543,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in shares of InMode by 23.2% during the 1st quarter. Renaissance Technologies LLC now owns 3,181,662 shares of the healthcare company’s stock valued at $117,435,000 after acquiring an additional 598,300 shares in the last quarter. Noked Israel Ltd bought a new position in shares of InMode in the 2nd quarter worth about $34,814,000. Meitav Dash Investments Ltd. boosted its holdings in shares of InMode by 45.3% in the 2nd quarter. Meitav Dash Investments Ltd. now owns 1,433,785 shares of the healthcare company’s stock valued at $32,255,000 after buying an additional 447,075 shares during the period. State Street Corp grew its position in shares of InMode by 12.4% during the 1st quarter. State Street Corp now owns 869,820 shares of the healthcare company’s stock valued at $32,105,000 after buying an additional 95,985 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in InMode by 14.8% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 663,692 shares of the healthcare company’s stock worth $14,873,000 after acquiring an additional 85,796 shares during the period. 55.24% of the stock is owned by institutional investors and hedge funds.

InMode Price Performance

Shares of InMode stock opened at $34.31 on Monday. InMode Ltd. has a 1-year low of $20.60 and a 1-year high of $54.68. The business’s fifty day moving average price is $35.85 and its two-hundred day moving average price is $33.33. The company has a market capitalization of $2.86 billion, a P/E ratio of 16.57 and a beta of 2.19.

InMode (NASDAQ:INMDGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The healthcare company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). The company had revenue of $121.23 million for the quarter, compared to the consensus estimate of $120.70 million. InMode had a net margin of 40.93% and a return on equity of 39.52%. On average, research analysts expect that InMode Ltd. will post 2.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on INMD. Jefferies Financial Group started coverage on InMode in a report on Wednesday, October 12th. They set a “buy” rating and a $40.00 target price for the company. Barclays started coverage on InMode in a research note on Wednesday, December 21st. They set an “overweight” rating and a $44.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, InMode has a consensus rating of “Buy” and an average target price of $46.17.

InMode Profile

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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.

See Also

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Institutional Ownership by Quarter for InMode (NASDAQ:INMD)

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