Martingale Asset Management L P Raises Position in InMode Ltd. (NASDAQ:INMD)

Martingale Asset Management L P increased its position in shares of InMode Ltd. (NASDAQ:INMD - Free Report) by 147.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,360 shares of the healthcare company's stock after buying an additional 37,135 shares during the quarter. Martingale Asset Management L P owned 0.07% of InMode worth $1,057,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of INMD. Systematic Financial Management LP raised its stake in InMode by 34.5% during the second quarter. Systematic Financial Management LP now owns 866,619 shares of the healthcare company's stock worth $15,807,000 after buying an additional 222,532 shares during the last quarter. ARK Investment Management LLC grew its position in InMode by 35.0% during the 2nd quarter. ARK Investment Management LLC now owns 124,905 shares of the healthcare company's stock valued at $2,278,000 after purchasing an additional 32,369 shares during the last quarter. Hsbc Holdings PLC raised its stake in InMode by 129.7% during the 2nd quarter. Hsbc Holdings PLC now owns 90,280 shares of the healthcare company's stock worth $1,659,000 after acquiring an additional 50,974 shares during the period. North Growth Management Ltd. increased its position in InMode by 11.9% during the second quarter. North Growth Management Ltd. now owns 593,000 shares of the healthcare company's stock valued at $10,821,000 after acquiring an additional 63,000 shares during the last quarter. Finally, Means Investment CO. Inc. purchased a new stake in InMode in the second quarter worth about $285,000. Institutional investors own 68.04% of the company's stock.

InMode Stock Down 0.5 %

InMode stock traded down $0.09 during mid-day trading on Monday, hitting $19.44. 1,009,604 shares of the company's stock were exchanged, compared to its average volume of 1,326,044. The firm has a market capitalization of $1.63 billion, a P/E ratio of 10.51 and a beta of 2.15. InMode Ltd. has a fifty-two week low of $14.87 and a fifty-two week high of $26.80. The company's 50 day simple moving average is $17.67 and its 200-day simple moving average is $17.50.

Wall Street Analysts Forecast Growth

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

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.