Fred Alger Management LLC Trims Holdings in InMode Ltd. (NASDAQ:INMD)

Fred Alger Management LLC trimmed its position in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 33.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 359,230 shares of the healthcare company's stock after selling 179,686 shares during the quarter. Fred Alger Management LLC owned about 0.43% of InMode worth $6,089,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Doma Perpetual Capital Management LLC raised its stake in shares of InMode by 210.7% in the second quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company's stock worth $36,685,000 after purchasing an additional 1,363,841 shares during the last quarter. Federated Hermes Inc. lifted its stake in InMode by 191.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company's stock valued at $20,520,000 after acquiring an additional 739,629 shares during the period. Acadian Asset Management LLC lifted its stake in InMode by 63.6% during the 2nd quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company's stock valued at $20,502,000 after acquiring an additional 437,122 shares during the period. Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of InMode during the 2nd quarter valued at about $4,104,000. Finally, Systematic Financial Management LP grew its stake in shares of InMode by 34.5% in the second quarter. Systematic Financial Management LP now owns 866,619 shares of the healthcare company's stock worth $15,807,000 after acquiring an additional 222,532 shares during the period. 68.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

INMD has been the topic of a number of research analyst reports. Needham & Company LLC restated a "hold" rating on shares of InMode in a research report on Thursday, October 31st. BTIG Research initiated coverage on InMode in a report on Thursday, October 17th. They set a "buy" rating and a $25.00 price target on the stock. Finally, Barclays cut their price objective on InMode from $29.00 to $27.00 and set an "overweight" rating for the company in a report on Monday, October 14th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, InMode presently has a consensus rating of "Hold" and a consensus target price of $22.60.

InMode Stock Up 0.2 %

INMD traded up $0.04 during trading on Friday, hitting $19.53. The company's stock had a trading volume of 559,502 shares, compared to its average volume of 1,092,510. The business's 50 day simple moving average is $17.60 and its 200-day simple moving average is $17.49. The firm has a market cap of $1.64 billion, a PE ratio of 10.56 and a beta of 2.15. InMode Ltd. has a one year low of $14.87 and a one year high of $26.80.

InMode 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.