Janus Henderson Group PLC Raises Position in InMode Ltd. $INMD

Janus Henderson Group PLC raised its position in shares of InMode Ltd. (NASDAQ:INMD) by 5.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 932,132 shares of the healthcare company’s stock after acquiring an additional 44,575 shares during the period. Janus Henderson Group PLC’s holdings in InMode were worth $12,752,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in shares of InMode by 6.1% in the 1st quarter. Renaissance Technologies LLC now owns 2,586,218 shares of the healthcare company’s stock worth $35,379,000 after acquiring an additional 149,800 shares in the last quarter. Steel Partners Holdings L.P. boosted its position in shares of InMode by 154.8% during the first quarter. Steel Partners Holdings L.P. now owns 1,795,361 shares of the healthcare company’s stock valued at $24,561,000 after purchasing an additional 1,090,697 shares in the last quarter. Millennium Management LLC boosted its position in shares of InMode by 111.4% during the fourth quarter. Millennium Management LLC now owns 1,778,681 shares of the healthcare company’s stock valued at $26,129,000 after purchasing an additional 937,376 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in InMode by 48.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,422,635 shares of the healthcare company’s stock worth $20,899,000 after purchasing an additional 466,891 shares during the period. Finally, Systematic Financial Management LP grew its stake in InMode by 6.7% in the first quarter. Systematic Financial Management LP now owns 1,154,457 shares of the healthcare company’s stock worth $15,793,000 after purchasing an additional 72,041 shares during the period. Hedge funds and other institutional investors own 68.04% of the company’s stock.

Analyst Upgrades and Downgrades

INMD has been the subject of several recent research reports. Robert W. Baird lowered their price objective on InMode from $17.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Barclays set a $19.00 target price on shares of InMode and gave the stock an “overweight” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $16.00.

InMode Stock Performance

Shares of INMD stock opened at $15.37 on Wednesday. The company has a market capitalization of $883.47 million, a price-to-earnings ratio of 11.30 and a beta of 1.89. InMode Ltd. has a one year low of $12.72 and a one year high of $16.74. The company’s 50-day moving average is $14.44 and its 200 day moving average is $14.23.

InMode (NASDAQ:INMD) last issued its earnings results on Wednesday, May 6th. The healthcare company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.05). The firm had revenue of $82.02 million during the quarter, compared to analysts’ expectations of $79.84 million. InMode had a return on equity of 13.47% and a net margin of 23.27%.The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $0.31 earnings per share.

InMode Profile

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.