JPMorgan Chase & Co. Sells 145,448 Shares of InMode Ltd. (NASDAQ:INMD)

JPMorgan Chase & Co. lessened its holdings in InMode Ltd. (NASDAQ:INMD) by 12.3% during the third quarter, HoldingsChannel.com reports. The fund owned 1,038,603 shares of the healthcare company’s stock after selling 145,448 shares during the period. JPMorgan Chase & Co.’s holdings in InMode were worth $17,604,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI grew its holdings in shares of InMode by 6.2% during the 3rd quarter. National Bank of Canada FI now owns 9,985 shares of the healthcare company’s stock valued at $169,000 after purchasing an additional 579 shares during the last quarter. Carmel Capital Partners LLC boosted its position in InMode by 6.9% in the third quarter. Carmel Capital Partners LLC now owns 11,511 shares of the healthcare company’s stock valued at $195,000 after buying an additional 741 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of InMode by 4.6% during the third quarter. Franklin Resources Inc. now owns 17,559 shares of the healthcare company’s stock worth $292,000 after buying an additional 768 shares during the last quarter. Meritage Portfolio Management increased its holdings in shares of InMode by 9.5% during the third quarter. Meritage Portfolio Management now owns 14,765 shares of the healthcare company’s stock worth $250,000 after buying an additional 1,284 shares in the last quarter. Finally, Inspire Advisors LLC lifted its stake in shares of InMode by 9.0% in the 2nd quarter. Inspire Advisors LLC now owns 21,433 shares of the healthcare company’s stock valued at $391,000 after acquiring an additional 1,778 shares during the last quarter. Institutional investors and hedge funds own 68.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on INMD shares. Barclays reduced their price objective on InMode from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research note on Thursday, October 31st. Finally, BTIG Research initiated coverage on shares of InMode in a research report on Thursday, October 17th. They set a “buy” rating and a $25.00 target price on the stock. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.40.

InMode Price Performance

InMode stock opened at $16.01 on Friday. The firm has a market cap of $1.34 billion, a P/E ratio of 8.65 and a beta of 2.12. The stock’s 50 day moving average is $18.09 and its 200 day moving average is $17.32. InMode Ltd. has a one year low of $14.87 and a one year high of $26.80.

InMode Company 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.