KLP Kapitalforvaltning AS Makes New $745,000 Investment in InMode Ltd. (NASDAQ:INMD)

KLP Kapitalforvaltning AS bought a new stake in shares of InMode Ltd. (NASDAQ:INMD - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 44,600 shares of the healthcare company's stock, valued at approximately $745,000. KLP Kapitalforvaltning AS owned 0.06% of InMode as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. American Century Companies Inc. bought a new stake in shares of InMode in the fourth quarter valued at approximately $299,000. Teacher Retirement System of Texas acquired a new position in InMode during the 4th quarter valued at $306,000. Intech Investment Management LLC boosted its holdings in InMode by 36.3% in the 4th quarter. Intech Investment Management LLC now owns 42,300 shares of the healthcare company's stock valued at $706,000 after purchasing an additional 11,260 shares during the period. Thrivent Financial for Lutherans boosted its holdings in InMode by 6.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 12,586 shares of the healthcare company's stock valued at $210,000 after purchasing an additional 721 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of InMode by 26.2% during the 4th quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company's stock worth $93,000 after purchasing an additional 1,154 shares during the period. Institutional investors own 68.04% of the company's stock.

Analysts Set New Price Targets

INMD has been the subject of several research reports. Barclays increased their target price on shares of InMode from $26.00 to $29.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Needham & Company LLC reissued a "hold" rating on shares of InMode in a report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $22.25.

InMode Trading Down 3.6 %

NASDAQ INMD traded down $0.59 during trading hours on Friday, reaching $15.71. 2,845,043 shares of the company's stock were exchanged, compared to its average volume of 1,177,798. The firm has a fifty day moving average of $18.33 and a 200-day moving average of $17.78. InMode Ltd. has a one year low of $14.87 and a one year high of $19.99. The stock has a market cap of $1.09 billion, a PE ratio of 6.69 and a beta of 1.96.

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.