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

JPMorgan Chase & Co. lessened its position in shares of InMode Ltd. (NASDAQ:INMD) by 23.5% in the third quarter, Holdings Channel.com reports. The firm owned 645,136 shares of the healthcare company’s stock after selling 198,293 shares during the period. JPMorgan Chase & Co.’s holdings in InMode were worth $9,613,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of INMD. Goldman Sachs Group Inc. lifted its holdings in shares of InMode by 234.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company’s stock valued at $19,935,000 after purchasing an additional 788,157 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in InMode in the 2nd quarter valued at approximately $8,294,000. Bank of America Corp DE raised its position in InMode by 142.1% in the 2nd quarter. Bank of America Corp DE now owns 862,209 shares of the healthcare company’s stock valued at $12,450,000 after buying an additional 506,134 shares during the last quarter. Marshall Wace LLP lifted its stake in InMode by 270.7% in the 2nd quarter. Marshall Wace LLP now owns 555,573 shares of the healthcare company’s stock valued at $8,022,000 after acquiring an additional 405,707 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in InMode in the 2nd quarter valued at approximately $3,852,000. Institutional investors and hedge funds own 68.04% of the company’s stock.

InMode Stock Down 1.6%

Shares of InMode stock opened at $13.23 on Friday. The stock has a market cap of $838.25 million, a P/E ratio of 9.19 and a beta of 2.18. InMode Ltd. has a 12-month low of $13.14 and a 12-month high of $19.78. The business’s 50 day moving average is $14.56 and its 200-day moving average is $14.68.

InMode (NASDAQ:INMD) last released its earnings results on Tuesday, February 10th. The healthcare company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. InMode had a net margin of 25.33% and a return on equity of 14.52%. The business had revenue of $103.85 million during the quarter, compared to analysts’ expectations of $104.64 million. During the same period last year, the business earned $0.42 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts expect that InMode Ltd. will post 1.75 EPS for the current year.

Analyst Upgrades and Downgrades

INMD has been the subject of a number of recent research reports. Robert W. Baird set a $17.00 price target on InMode in a research report on Wednesday, February 11th. BTIG Research reissued a “neutral” rating on shares of InMode in a research report on Monday, January 26th. Wall Street Zen cut shares of InMode from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Canaccord Genuity Group set a $15.00 target price on shares of InMode and gave the company a “hold” rating in a research report on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of InMode in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.80.

InMode Profile

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.