Northern Trust Corp Cuts Stock Position in InMode Ltd. (NASDAQ:INMD)

Northern Trust Corp trimmed its position in shares of InMode Ltd. (NASDAQ:INMD) by 16.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,293 shares of the healthcare company’s stock after selling 10,910 shares during the quarter. Northern Trust Corp owned 0.17% of InMode worth $3,929,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ExodusPoint Capital Management LP purchased a new position in InMode during the fourth quarter worth $1,034,000. Credit Suisse AG boosted its stake in InMode by 823.5% during the fourth quarter. Credit Suisse AG now owns 74,294 shares of the healthcare company’s stock worth $3,527,000 after buying an additional 66,249 shares during the period. Envestnet Asset Management Inc. boosted its stake in InMode by 137.2% during the first quarter. Envestnet Asset Management Inc. now owns 12,709 shares of the healthcare company’s stock worth $920,000 after buying an additional 7,351 shares during the period. The PNC Financial Services Group Inc. boosted its stake in InMode by 11.4% during the first quarter. The PNC Financial Services Group Inc. now owns 2,450 shares of the healthcare company’s stock worth $177,000 after buying an additional 250 shares during the period. Finally, Exencial Wealth Advisors LLC purchased a new position in InMode during the first quarter worth $3,542,000. 61.57% of the stock is owned by institutional investors.

INMD stock opened at $112.22 on Thursday. The company has a 50-day moving average price of $91.19. The company has a market capitalization of $3.59 billion, a P/E ratio of 49.66 and a beta of 1.87. InMode Ltd. has a 1-year low of $29.15 and a 1-year high of $113.06.

InMode (NASDAQ:INMD) last released its quarterly earnings data on Wednesday, May 5th. The healthcare company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.28. The firm had revenue of $65.52 million during the quarter, compared to the consensus estimate of $51.14 million. InMode had a return on equity of 38.62% and a net margin of 41.20%. The firm’s quarterly revenue was up 62.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. As a group, sell-side analysts forecast that InMode Ltd. will post 2.06 EPS for the current fiscal year.

Several research analysts have commented on the stock. Needham & Company LLC lifted their price objective on shares of InMode from $94.00 to $119.00 and gave the stock a “buy” rating in a research note on Monday, July 12th. Canaccord Genuity lifted their target price on InMode from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, May 6th. Zacks Investment Research downgraded InMode from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 13th. Barclays lifted their target price on InMode from $92.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 13th. Finally, Robert W. Baird lifted their target price on InMode from $84.00 to $104.00 and gave the stock an “outperform” rating in a research report on Thursday, May 6th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $100.17.

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. 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.

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Institutional Ownership by Quarter for InMode (NASDAQ:INMD)

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