Mitsubishi UFJ Asset Management Co. Ltd. Sells 155,105 Shares of InMode Ltd. $INMD

Mitsubishi UFJ Asset Management Co. Ltd. lessened its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 66.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 79,057 shares of the healthcare company’s stock after selling 155,105 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.13% of InMode worth $1,142,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of INMD. Principal Financial Group Inc. lifted its holdings in InMode by 1.9% during the 1st quarter. Principal Financial Group Inc. now owns 101,439 shares of the healthcare company’s stock worth $1,800,000 after buying an additional 1,877 shares during the period. Cerity Partners LLC bought a new position in shares of InMode during the first quarter worth about $201,000. New York State Common Retirement Fund raised its position in shares of InMode by 57.3% during the first quarter. New York State Common Retirement Fund now owns 38,453 shares of the healthcare company’s stock worth $682,000 after acquiring an additional 14,000 shares during the last quarter. CWM LLC lifted its stake in shares of InMode by 106.4% in the first quarter. CWM LLC now owns 2,369 shares of the healthcare company’s stock worth $42,000 after acquiring an additional 1,221 shares during the period. Finally, Victory Capital Management Inc. bought a new stake in InMode in the first quarter valued at approximately $1,289,000. Institutional investors own 68.04% of the company’s stock.

InMode Trading Down 0.9%

NASDAQ:INMD opened at $14.17 on Friday. InMode Ltd. has a 12 month low of $13.14 and a 12 month high of $19.83. The stock has a market capitalization of $895.69 million, a price-to-earnings ratio of 6.56 and a beta of 2.11. The firm has a fifty day simple moving average of $15.04 and a two-hundred day simple moving average of $14.62.

InMode (NASDAQ:INMD) last released its quarterly earnings data on Wednesday, November 5th. The healthcare company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. InMode had a net margin of 41.04% and a return on equity of 14.50%. The company had revenue of $93.17 million for the quarter, compared to analysts’ expectations of $88.05 million. During the same quarter in the prior year, the firm earned $0.70 EPS. The business’s revenue was down 28.5% on a year-over-year basis. Equities analysts predict that InMode Ltd. will post 1.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wall Street Zen lowered shares of InMode from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Friday, October 10th. Canaccord Genuity Group lifted their target price on shares of InMode from $14.00 to $16.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. UBS Group decreased their price target on InMode from $16.25 to $16.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Finally, Zacks Research raised InMode from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, InMode currently has an average rating of “Hold” and an average target price of $16.80.

About InMode

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.