BNP Paribas Financial Markets Acquires Shares of 57,149 InMode Ltd. (NASDAQ:INMD)

BNP Paribas Financial Markets acquired a new stake in InMode Ltd. (NASDAQ:INMD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 57,149 shares of the healthcare company’s stock, valued at approximately $954,000. BNP Paribas Financial Markets owned 0.08% of InMode as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Renaissance Technologies LLC lifted its holdings in InMode by 2.3% in the fourth quarter. Renaissance Technologies LLC now owns 2,266,618 shares of the healthcare company’s stock valued at $37,853,000 after acquiring an additional 50,200 shares during the period. LSV Asset Management lifted its stake in shares of InMode by 0.4% in the 4th quarter. LSV Asset Management now owns 1,715,071 shares of the healthcare company’s stock valued at $28,642,000 after purchasing an additional 6,300 shares during the period. JPMorgan Chase & Co. boosted its holdings in InMode by 4.4% during the fourth quarter. JPMorgan Chase & Co. now owns 1,084,241 shares of the healthcare company’s stock worth $18,107,000 after buying an additional 45,638 shares in the last quarter. Northern Trust Corp grew its position in InMode by 17.0% during the fourth quarter. Northern Trust Corp now owns 658,154 shares of the healthcare company’s stock valued at $10,991,000 after buying an additional 95,652 shares during the period. Finally, River Road Asset Management LLC purchased a new position in InMode in the fourth quarter valued at $8,572,000. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Price Performance

Shares of InMode stock opened at $14.76 on Wednesday. The stock has a market capitalization of $1.03 billion, a P/E ratio of 6.28 and a beta of 2.02. The business has a 50 day simple moving average of $15.85 and a two-hundred day simple moving average of $17.30. InMode Ltd. has a 12 month low of $13.68 and a 12 month high of $19.85.

InMode (NASDAQ:INMD) last posted its quarterly earnings data on Monday, April 28th. The healthcare company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.14). InMode had a net margin of 45.91% and a return on equity of 18.25%. The firm had revenue of $77.87 million during the quarter, compared to analyst estimates of $82.21 million. During the same period in the prior year, the company posted $0.32 earnings per share. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, research analysts anticipate that InMode Ltd. will post 1.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on INMD shares. Barclays lowered their target price on shares of InMode from $29.00 to $24.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Baird R W lowered InMode from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. UBS Group cut their price objective on InMode from $19.00 to $16.25 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. BTIG Research lowered InMode from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 29th. Finally, Canaccord Genuity Group cut their price target on shares of InMode from $17.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.54.

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.