JPMorgan Chase & Co. Sells 198,293 Shares of InMode Ltd. $INMD

Key Points

• JPMorgan Chase cut its InMode stake by 23.5%, selling 198,293 shares and leaving it with 645,136 shares (about 1.02% of the company) valued at roughly $9.61 million per the SEC filing.
• InMode beat Q results on EPS ($0.46 vs. $0.42 est.) while revenue of $103.85M slightly missed expectations; revenue was up 6.1% YoY and analysts carry a consensus Hold rating with an average price target of $16.80.
• The stock trades around $13.23 near its 52‑week low ($13.14), has a market cap of about $838M and a trailing P/E of 9.19, and institutional investors own roughly 68% of the shares.

JPMorgan Chase & Co. reduced its holdings in InMode Ltd. (NASDAQ:INMD - Free Report) by 23.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 645,136 shares of the healthcare company's stock after selling 198,293 shares during the period. JPMorgan Chase & Co. owned approximately 1.02% of InMode worth $9,613,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Blue Trust Inc. boosted its position in shares of InMode by 93.7% in the 3rd quarter. Blue Trust Inc. now owns 2,861 shares of the healthcare company's stock worth $43,000 after purchasing an additional 1,384 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in InMode in the third quarter valued at about $52,000. Pilgrim Partners Asia Pte Ltd bought a new position in InMode during the third quarter worth about $69,000. Topline Capital Management LLC acquired a new position in shares of InMode during the 2nd quarter worth about $160,000. Finally, Plan A Wealth LLC bought a new stake in shares of InMode in the 3rd quarter valued at about $165,000. Institutional investors own 68.04% of the company's stock.

InMode Price Performance

NASDAQ:INMD opened at $13.23 on Friday. InMode Ltd. has a fifty-two week low of $13.14 and a fifty-two week high of $19.78. The stock has a market capitalization of $838.25 million, a PE ratio of 9.19 and a beta of 2.18. The business's 50-day simple moving average is $14.56 and its 200-day simple moving average is $14.68.

InMode (NASDAQ:INMD - Get Free Report) last issued its quarterly earnings data on Tuesday, February 10th. The healthcare company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.04. The business 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%.InMode's quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 EPS. On average, research analysts expect that InMode Ltd. will post 1.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Weiss Ratings reissued a "sell (d+)" rating on shares of InMode in a research note on Thursday, January 22nd. Canaccord Genuity Group set a $15.00 target price on shares of InMode and gave the company a "hold" rating in a research note on Wednesday, December 17th. Robert W. Baird set a $17.00 target price on shares of InMode in a report on Wednesday, February 11th. Wall Street Zen cut shares of InMode from a "buy" rating to a "hold" rating in a research report on Saturday, November 8th. Finally, BTIG Research reissued a "neutral" rating on shares of InMode in a report on Monday, January 26th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $16.80.

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.

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