Janney Montgomery Scott LLC cut its holdings in shares of InMode Ltd. (NASDAQ:INMD – Get Rating) by 35.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 institutional investors and hedge funds also recently bought and sold shares of the business. Meritage Portfolio Management purchased a new position in shares of InMode during the 3rd quarter valued at $256,000. Marathon Asset Management Ltd grew its stake in InMode by 16.8% in the third quarter. Marathon Asset Management Ltd now owns 62,018 shares of the healthcare company’s stock valued at $1,805,000 after purchasing an additional 8,903 shares in the last quarter. Raymond James & Associates grew its stake in InMode by 144.3% in the third quarter. Raymond James & Associates now owns 153,227 shares of the healthcare company’s stock valued at $4,460,000 after purchasing an additional 90,503 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in InMode by 6.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 177,151 shares of the healthcare company’s stock worth $5,157,000 after purchasing an additional 10,991 shares during the last quarter. Finally, Eagle Global Advisors LLC lifted its holdings in shares of InMode by 59.8% during the 3rd quarter. Eagle Global Advisors LLC now owns 18,700 shares of the healthcare company’s stock valued at $544,000 after buying an additional 7,000 shares during the last quarter. Hedge funds and other institutional investors own 55.24% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on INMD. Jefferies Financial Group assumed coverage on InMode in a report on Wednesday, October 12th. They issued a “buy” rating and a $40.00 price objective on the stock. Barclays assumed coverage on shares of InMode in a report on Wednesday, December 21st. They set an “overweight” rating and a $44.00 price target on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $46.17.
InMode Stock Up 1.9 %
InMode (NASDAQ:INMD – Get Rating) last announced its earnings results on Thursday, October 27th. The healthcare company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.05). InMode had a return on equity of 39.52% and a net margin of 40.93%. The firm had revenue of $121.23 million during the quarter, compared to the consensus estimate of $120.70 million. As a group, equities analysts expect that InMode Ltd. will post 2.17 EPS for the current fiscal year.
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.
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