Bessemer Group Inc. Acquires Shares of 34,800 InMode Ltd. (NASDAQ:INMD)

Bessemer Group Inc. acquired a new stake in InMode Ltd. (NASDAQ:INMD) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 34,800 shares of the healthcare company’s stock, valued at approximately $617,000. Bessemer Group Inc. owned about 0.05% of InMode at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in InMode by 2.3% during the fourth quarter. Renaissance Technologies LLC now owns 2,266,618 shares of the healthcare company’s stock worth $37,853,000 after buying an additional 50,200 shares during the period. LSV Asset Management boosted its position in shares of InMode by 0.4% during the fourth quarter. LSV Asset Management now owns 1,715,071 shares of the healthcare company’s stock valued at $28,642,000 after buying an additional 6,300 shares during the period. JPMorgan Chase & Co. grew its stake in shares of InMode by 4.4% during the fourth quarter. JPMorgan Chase & Co. now owns 1,084,241 shares of the healthcare company’s stock valued at $18,107,000 after buying an additional 45,638 shares during the last quarter. Systematic Financial Management LP grew its stake in shares of InMode by 4.6% during the fourth quarter. Systematic Financial Management LP now owns 1,026,823 shares of the healthcare company’s stock valued at $17,148,000 after buying an additional 44,712 shares during the last quarter. Finally, North Growth Management Ltd. raised its holdings in shares of InMode by 12.8% in the first quarter. North Growth Management Ltd. now owns 659,000 shares of the healthcare company’s stock worth $11,683,000 after buying an additional 75,000 shares during the period. Institutional investors own 68.04% of the company’s stock.

InMode Price Performance

InMode stock opened at $14.83 on Wednesday. The stock has a market capitalization of $937.40 million, a price-to-earnings ratio of 6.36 and a beta of 1.95. InMode Ltd. has a 1-year low of $13.14 and a 1-year high of $19.85. The business has a fifty day moving average price of $14.37 and a 200-day moving average price of $16.33.

InMode (NASDAQ:INMD) last released its earnings results on Monday, April 28th. The healthcare company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.14). InMode had a return on equity of 17.17% and a net margin of 44.79%. The company had revenue of $77.87 million during the quarter, compared to analyst estimates of $82.21 million. During the same quarter last year, the business earned $0.32 earnings per share. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, equities research analysts anticipate that InMode Ltd. will post 1.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on INMD. Baird R W downgraded shares of InMode from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 28th. Canaccord Genuity Group reduced 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. Jefferies Financial Group lowered their target price on InMode from $16.00 to $15.00 and set a “hold” rating for the company in a report on Monday, April 14th. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research report on Monday, April 28th. Finally, Robert W. Baird cut InMode from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $22.00 to $16.00 in a research note on Monday, April 28th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, InMode has an average rating of “Hold” and an average target price of $18.54.

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.