Renaissance Technologies LLC Has $37.85 Million Holdings in InMode Ltd. (NASDAQ:INMD)

Renaissance Technologies LLC boosted its holdings in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,266,618 shares of the healthcare company's stock after purchasing an additional 50,200 shares during the quarter. Renaissance Technologies LLC owned about 3.26% of InMode worth $37,853,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. National Bank of Canada FI grew its stake in InMode by 6.2% in the 3rd quarter. National Bank of Canada FI now owns 9,985 shares of the healthcare company's stock worth $169,000 after acquiring an additional 579 shares in the last quarter. Harvey Capital Management Inc. lifted its stake in shares of InMode by 1.4% during the fourth quarter. Harvey Capital Management Inc. now owns 51,490 shares of the healthcare company's stock worth $860,000 after buying an additional 700 shares during the period. Thrivent Financial for Lutherans boosted its position in InMode by 6.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,586 shares of the healthcare company's stock valued at $210,000 after buying an additional 721 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of InMode by 4.6% during the third quarter. Franklin Resources Inc. now owns 17,559 shares of the healthcare company's stock worth $292,000 after purchasing an additional 768 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in InMode by 26.2% during the fourth quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company's stock valued at $93,000 after acquiring an additional 1,154 shares in the last quarter. 68.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on INMD. Jefferies Financial Group decreased their target price on InMode from $16.00 to $15.00 and set a "hold" rating on the stock in a research report on Monday. Barclays upped their target price on shares of InMode from $26.00 to $29.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of InMode in a research report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $21.25.

InMode Price Performance

Shares of InMode stock traded down $0.48 on Wednesday, hitting $14.93. The company had a trading volume of 314,270 shares, compared to its average volume of 1,175,960. InMode Ltd. has a 52 week low of $13.68 and a 52 week high of $19.85. The business has a 50-day simple moving average of $17.89 and a 200-day simple moving average of $17.64. The company has a market cap of $1.04 billion, a PE ratio of 6.35 and a beta of 1.96.

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.