JPMorgan Chase & Co. Has $9.61 Million Stake in InMode Ltd. $INMD

JPMorgan Chase & Co. decreased its position in InMode Ltd. (NASDAQ:INMD) by 23.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 645,136 shares of the healthcare company’s stock after selling 198,293 shares during the period. JPMorgan Chase & Co. owned about 1.02% of InMode worth $9,613,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INMD. Advisory Services Network LLC bought a new position in shares of InMode in the third quarter valued at $37,000. Blue Trust Inc. boosted its holdings in shares of InMode by 93.7% during the third quarter. Blue Trust Inc. now owns 2,861 shares of the healthcare company’s stock worth $43,000 after acquiring an additional 1,384 shares during the period. State of Alaska Department of Revenue acquired a new position in InMode in the 3rd quarter valued at $52,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of InMode in the third quarter valued at about $69,000. Finally, Rothschild Investment LLC acquired a new position in shares of InMode during the 3rd quarter worth approximately $85,000. 68.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

INMD has been the topic of several recent analyst reports. Canaccord Genuity Group set a $15.00 target price on shares of InMode and gave the company a “hold” rating in a report on Wednesday, December 17th. BTIG Research reissued a “neutral” rating on shares of InMode in a research note on Monday, January 26th. Weiss Ratings restated a “sell (d+)” rating on shares of InMode in a research note on Thursday, January 22nd. Finally, Robert W. Baird set a $17.00 price objective on InMode in a report on Wednesday, February 11th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.80.

InMode Stock Performance

Shares of InMode stock opened at $13.40 on Monday. The stock has a 50 day moving average price of $14.21 and a two-hundred day moving average price of $14.54. InMode Ltd. has a 52 week low of $12.72 and a 52 week high of $18.68. The stock has a market capitalization of $849.02 million, a PE ratio of 9.31 and a beta of 2.18.

InMode (NASDAQ:INMD) last issued its quarterly earnings data on Tuesday, February 10th. The healthcare company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $103.85 million during the quarter, compared to analyst estimates of $104.64 million. InMode had a return on equity of 14.52% and a net margin of 25.33%.The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 EPS. Research analysts forecast that InMode Ltd. will post 1.75 EPS for the current year.

About InMode

InMode Ltd. (NASDAQ:INMD) is a medical technology company headquartered in Israel that develops, manufactures and markets devices for aesthetic and medical treatments. The company specializes in energy-based technologies, primarily radiofrequency platforms, designed to deliver minimally-invasive and non-invasive procedures.

InMode’s product portfolio encompasses a range of modular systems targeting body contouring, facial rejuvenation, skin tightening and other cosmetic applications. Key offerings include devices built on proprietary radiofrequency and radiofrequency-assisted lipolysis, enabling physicians to perform treatments such as tissue coagulation, skin resurfacing and subdermal volumizing with reduced downtime.

The company distributes its technologies through direct sales operations and distribution partners, serving medical professionals across multiple geographies including North America, Europe, Asia Pacific and Latin America.