Envestnet Asset Management Inc. raised its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 137.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,709 shares of the healthcare company’s stock after purchasing an additional 7,351 shares during the quarter. Envestnet Asset Management Inc.’s holdings in InMode were worth $920,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. ExodusPoint Capital Management LP acquired a new stake in InMode during the 4th quarter valued at $1,034,000. Credit Suisse AG increased its position in InMode by 823.5% during the 4th 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. New York State Common Retirement Fund bought a new position in InMode during the 4th quarter worth $2,453,000. Tamarack Advisers LP bought a new position in InMode during the 4th quarter worth $4,145,000. Finally, Victory Capital Management Inc. increased its position in InMode by 38.2% during the 4th quarter. Victory Capital Management Inc. now owns 473,483 shares of the healthcare company’s stock worth $22,482,000 after buying an additional 130,758 shares during the period. 61.57% of the stock is owned by institutional investors and hedge funds.
InMode stock opened at $90.32 on Friday. InMode Ltd. has a 12-month low of $24.80 and a 12-month high of $93.91. The company has a 50-day simple moving average of $82.52. The company has a market capitalization of $2.89 billion, a PE ratio of 39.96 and a beta of 1.87.
INMD has been the topic of a number of recent analyst reports. UBS Group raised their price target on InMode from $64.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, February 11th. Robert W. Baird raised their price target on InMode from $84.00 to $104.00 and gave the stock an “outperform” rating in a research report on Thursday, May 6th. Needham & Company LLC initiated coverage on InMode in a research report on Tuesday, May 18th. They issued a “buy” rating and a $94.00 price target on the stock. Canaccord Genuity raised their price target on InMode from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, May 6th. Finally, Zacks Investment Research cut InMode from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. InMode presently has a consensus rating of “Buy” and a consensus price target of $91.33.
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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