679,015 Shares in InMode Ltd. (NASDAQ:INMD) Bought by Jennison Associates LLC

Jennison Associates LLC acquired a new stake in shares of InMode Ltd. (NASDAQ:INMD - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Duality Advisers LP purchased a new position in InMode during the fourth quarter worth about $1,773,000. Handelsbanken Fonder AB boosted its holdings in InMode by 99.8% during the fourth quarter. Handelsbanken Fonder AB now owns 35,616 shares of the healthcare company's stock worth $792,000 after purchasing an additional 17,793 shares during the last quarter. LRT Capital Management LLC boosted its holdings in InMode by 33.1% during the fourth quarter. LRT Capital Management LLC now owns 38,885 shares of the healthcare company's stock worth $865,000 after purchasing an additional 9,661 shares during the last quarter. CWM LLC boosted its holdings in InMode by 38.3% during the fourth quarter. CWM LLC now owns 2,454 shares of the healthcare company's stock worth $55,000 after purchasing an additional 680 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in InMode by 5,512.7% during the fourth quarter. Federated Hermes Inc. now owns 582,434 shares of the healthcare company's stock worth $12,953,000 after purchasing an additional 572,057 shares during the last quarter. 68.04% of the stock is currently owned by institutional investors and hedge funds.

InMode Stock Performance

INMD traded up $0.12 during midday trading on Friday, reaching $17.14. The company had a trading volume of 969,994 shares, compared to its average volume of 1,567,891. The stock has a market cap of $1.44 billion, a PE ratio of 7.40 and a beta of 2.16. InMode Ltd. has a 12-month low of $16.82 and a 12-month high of $48.25. The business has a 50-day moving average price of $20.43 and a two-hundred day moving average price of $21.66.

InMode (NASDAQ:INMD - Get Free Report) last released its earnings results on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share 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 firm had revenue of $126.80 million for the quarter, compared to analysts' expectations of $124.77 million. During the same period in the previous year, the company earned $0.69 earnings per share. The company's quarterly revenue was down 5.1% on a year-over-year basis. On average, research analysts anticipate that InMode Ltd. will post 2.04 earnings per share for the current year.

Analyst Ratings Changes

INMD has been the topic of several analyst reports. UBS Group boosted their price target on shares of InMode from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, February 14th. Barclays cut their price target on shares of InMode from $34.00 to $33.00 and set an "overweight" rating on the stock in a report on Friday, April 12th. 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. Based on data from MarketBeat, InMode has a consensus rating of "Hold" and a consensus target price of $32.80.

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.