Jennison Associates LLC Invests $15.10 Million in InMode Ltd. (NASDAQ:INMD)

Jennison Associates LLC acquired a new stake in shares of InMode Ltd. (NASDAQ:INMD) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 679,015 shares of the healthcare company’s stock, valued at approximately $15,101,000. Jennison Associates LLC owned about 0.82% of InMode as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its position in InMode by 1.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 40,278 shares of the healthcare company’s stock valued at $1,227,000 after purchasing an additional 601 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in InMode by 1.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 33,916 shares of the healthcare company’s stock valued at $1,033,000 after acquiring an additional 640 shares during the period. CWM LLC lifted its stake in InMode by 38.3% during the 4th quarter. CWM LLC now owns 2,454 shares of the healthcare company’s stock valued at $55,000 after acquiring an additional 680 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in InMode by 2.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,643 shares of the healthcare company’s stock valued at $793,000 after acquiring an additional 701 shares during the period. Finally, Exchange Traded Concepts LLC bought a new position in InMode during the 3rd quarter valued at about $27,000. 68.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays lowered their price objective on shares of InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. UBS Group increased their price objective on shares of InMode from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research note on Tuesday, April 9th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, InMode currently has an average rating of “Hold” and an average price target of $32.80.

InMode Price Performance

Shares of INMD opened at $17.02 on Friday. InMode Ltd. has a 1 year low of $16.82 and a 1 year high of $48.25. The company has a 50 day simple moving average of $20.43 and a two-hundred day simple moving average of $21.66. The firm has a market cap of $1.43 billion, a P/E ratio of 7.40 and a beta of 2.16.

InMode (NASDAQ:INMD) last announced its quarterly earnings data on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. InMode had a net margin of 40.22% and a return on equity of 29.80%. The business had revenue of $126.80 million during the quarter, compared to analyst estimates of $124.77 million. During the same period last year, the firm posted $0.69 EPS. The company’s revenue was down 5.1% on a year-over-year basis. On average, sell-side analysts anticipate that InMode Ltd. will post 2.04 earnings per share for the current year.

InMode 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.