FIL Ltd Reduces Stock Position in InMode Ltd. (NASDAQ:INMD)

FIL Ltd decreased its holdings in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 11.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 744,837 shares of the healthcare company's stock after selling 100,000 shares during the quarter. FIL Ltd owned about 1.07% of InMode worth $12,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new position in shares of InMode in the fourth quarter valued at approximately $87,000. Farther Finance Advisors LLC increased its stake in InMode by 26.2% in the 4th quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company's stock worth $93,000 after acquiring an additional 1,154 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of InMode in the 4th quarter valued at about $114,000. National Bank of Canada FI grew its holdings in shares of InMode by 6.2% during the third quarter. National Bank of Canada FI now owns 9,985 shares of the healthcare company's stock worth $169,000 after purchasing an additional 579 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in InMode in the fourth quarter valued at approximately $174,000. Hedge funds and other institutional investors own 68.04% of the company's stock.

InMode Price Performance

Shares of NASDAQ:INMD traded up $0.04 during trading on Thursday, hitting $14.95. 281,084 shares of the company's stock were exchanged, compared to its average volume of 1,176,228. The business's 50-day simple moving average is $17.83 and its 200 day simple moving average is $17.62. InMode Ltd. has a 52-week low of $13.68 and a 52-week high of $19.85. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 6.35 and a beta of 1.96.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Jefferies Financial Group cut their target price on shares of InMode from $16.00 to $15.00 and set a "hold" rating for the company in a research report on Monday. Needham & Company LLC reaffirmed a "hold" rating on shares of InMode in a report on Wednesday, April 9th. Finally, Barclays raised their price objective on InMode from $26.00 to $29.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $21.25.

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.