Norges Bank Acquires Shares of 176,240 InMode Ltd. (NASDAQ:INMD)

Norges Bank purchased a new stake in InMode Ltd. (NASDAQ:INMD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 176,240 shares of the healthcare company's stock, valued at approximately $2,943,000. Norges Bank owned approximately 0.25% of InMode as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of InMode in the fourth quarter valued at $87,000. Farther Finance Advisors LLC lifted 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 acquiring an additional 1,154 shares during the period. National Bank of Canada FI boosted its position in shares of InMode by 6.2% during the 3rd quarter. National Bank of Canada FI now owns 9,985 shares of the healthcare company's stock valued at $169,000 after acquiring an additional 579 shares in the last quarter. WINTON GROUP Ltd bought a new stake in InMode in the fourth quarter valued at about $174,000. Finally, HighTower Advisors LLC acquired a new position in InMode in the fourth quarter worth about $180,000. Institutional investors own 68.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Barclays increased their target price 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 reiterated a "hold" rating on shares of InMode in a research note on Wednesday, April 9th. Finally, Jefferies Financial Group reduced their price objective on InMode from $16.00 to $15.00 and set a "hold" rating on the stock in a research note on Monday. 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 stock presently has an average rating of "Hold" and a consensus price target of $21.25.

InMode Stock Performance

INMD traded down $0.35 during mid-day trading on Wednesday, reaching $15.06. The stock had a trading volume of 83,373 shares, compared to its average volume of 1,175,186. The firm's fifty day simple moving average is $17.89 and its two-hundred day simple moving average is $17.64. The stock has a market capitalization of $1.05 billion, a P/E ratio of 6.41 and a beta of 1.96. InMode Ltd. has a 52 week low of $13.68 and a 52 week high of $19.85.

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.