Bank of New York Mellon Corp Cuts Stake in InMode Ltd. (NASDAQ:INMD)

Bank of New York Mellon Corp lessened its stake in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 10.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 189,703 shares of the healthcare company's stock after selling 23,174 shares during the quarter. Bank of New York Mellon Corp owned about 0.23% of InMode worth $3,168,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of INMD. Atria Investments Inc acquired a new stake in InMode during the 3rd quarter valued at $208,000. Thrivent Financial for Lutherans acquired a new stake in InMode during the 3rd quarter valued at $201,000. Intech Investment Management LLC acquired a new stake in shares of InMode during the third quarter worth $526,000. D.A. Davidson & CO. boosted its holdings in shares of InMode by 10.5% during the third quarter. D.A. Davidson & CO. now owns 41,278 shares of the healthcare company's stock worth $700,000 after purchasing an additional 3,915 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of InMode during the third quarter worth $1,104,000. Institutional investors and hedge funds own 68.04% of the company's stock.

InMode Stock Performance

Shares of INMD traded up $0.20 during trading hours on Friday, hitting $18.63. The stock had a trading volume of 2,345,168 shares, compared to its average volume of 1,125,878. The firm has a market cap of $1.30 billion, a P/E ratio of 7.93 and a beta of 2.08. The company's fifty day simple moving average is $18.12 and its 200 day simple moving average is $17.69. InMode Ltd. has a 12-month low of $14.87 and a 12-month high of $21.92.

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Analyst Upgrades and Downgrades

Several research firms have recently issued reports on INMD. Barclays raised their price objective on InMode from $26.00 to $29.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Needham & Company LLC restated a "hold" rating on shares of InMode in a report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $22.25.

InMode Company 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.