Whittier Trust Co. Sells 97,185 Shares of InMode Ltd. (NASDAQ:INMD)

Whittier Trust Co. decreased its stake in InMode Ltd. (NASDAQ:INMD) by 98.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,211 shares of the healthcare company’s stock after selling 97,185 shares during the period. Whittier Trust Co.’s holdings in InMode were worth $27,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in INMD. BlackRock Inc. lifted its position in InMode by 223.8% in the second quarter. BlackRock Inc. now owns 5,443,513 shares of the healthcare company’s stock worth $203,315,000 after purchasing an additional 3,762,511 shares during the period. LSV Asset Management boosted its stake in InMode by 3,557.6% in the 3rd quarter. LSV Asset Management now owns 1,678,819 shares of the healthcare company’s stock valued at $51,137,000 after buying an additional 1,632,919 shares in the last quarter. State Street Corp increased its holdings in shares of InMode by 199.1% during the second quarter. State Street Corp now owns 1,736,843 shares of the healthcare company’s stock worth $64,871,000 after buying an additional 1,156,213 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of InMode by 78.2% in the 4th quarter. Millennium Management LLC now owns 1,916,711 shares of the healthcare company’s stock worth $68,427,000 after acquiring an additional 840,821 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in InMode by 607.6% during the 2nd quarter. Geode Capital Management LLC now owns 862,587 shares of the healthcare company’s stock worth $32,218,000 after acquiring an additional 740,690 shares during the last quarter. Institutional investors own 68.04% of the company’s stock.

InMode Stock Performance

INMD opened at $21.20 on Thursday. The firm’s fifty day moving average is $22.58 and its two-hundred day moving average is $23.57. The firm has a market cap of $1.78 billion, a PE ratio of 9.22 and a beta of 2.17. InMode Ltd. has a twelve month low of $18.57 and a twelve month high of $48.25.

InMode (NASDAQ:INMD) last released its quarterly earnings results on Tuesday, February 13th. The healthcare company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. InMode had a return on equity of 29.80% and a net margin of 40.22%. The company had revenue of $126.80 million for the quarter, compared to analyst estimates of $124.77 million. During the same quarter last year, the firm posted $0.69 earnings per share. InMode’s revenue was down 5.1% compared to the same quarter last year. Equities analysts forecast that InMode Ltd. will post 2.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on INMD shares. Canaccord Genuity Group reissued a “hold” rating and set a $22.00 price target on shares of InMode in a research note on Thursday, December 7th. Barclays boosted their target price on InMode from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Finally, UBS Group raised their price target on InMode from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, InMode has an average rating of “Hold” and a consensus target price of $33.00.

About InMode

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.