Quantbot Technologies LP Invests $1.10 Million in InMode Ltd. (NASDAQ:INMD)

Quantbot Technologies LP purchased a new stake in shares of InMode Ltd. (NASDAQ:INMD - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 65,153 shares of the healthcare company's stock, valued at approximately $1,104,000. Quantbot Technologies LP owned approximately 0.08% of InMode at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in INMD. Carmel Capital Partners LLC lifted its holdings in shares of InMode by 6.9% during the third quarter. Carmel Capital Partners LLC now owns 11,511 shares of the healthcare company's stock worth $195,000 after purchasing an additional 741 shares during the period. Meritage Portfolio Management lifted its stake in InMode by 9.5% during the 3rd quarter. Meritage Portfolio Management now owns 14,765 shares of the healthcare company's stock valued at $250,000 after acquiring an additional 1,284 shares during the period. Cetera Advisors LLC boosted its holdings in shares of InMode by 8.9% in the 1st quarter. Cetera Advisors LLC now owns 17,028 shares of the healthcare company's stock valued at $368,000 after acquiring an additional 1,394 shares during the last quarter. Inspire Advisors LLC increased its stake in shares of InMode by 9.0% in the second quarter. Inspire Advisors LLC now owns 21,433 shares of the healthcare company's stock worth $391,000 after acquiring an additional 1,778 shares during the period. Finally, Asset Dedication LLC purchased a new position in shares of InMode during the second quarter worth $33,000. Hedge funds and other institutional investors own 68.04% of the company's stock.

InMode Trading Up 0.2 %

INMD traded up $0.04 on Friday, reaching $19.53. The stock had a trading volume of 559,502 shares, compared to its average volume of 1,092,510. The business's 50-day moving average price is $17.60 and its two-hundred day moving average price is $17.49. The company has a market cap of $1.64 billion, a P/E ratio of 10.56 and a beta of 2.15. InMode Ltd. has a 12-month low of $14.87 and a 12-month high of $26.80.

Wall Street Analysts Forecast Growth

Several research firms have commented on INMD. Needham & Company LLC reaffirmed a "hold" rating on shares of InMode in a report on Thursday, October 31st. Barclays decreased their price objective on InMode from $29.00 to $27.00 and set an "overweight" rating for the company in a report on Monday, October 14th. Finally, BTIG Research initiated coverage on InMode in a report on Thursday, October 17th. They set a "buy" rating and a $25.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, InMode presently has an average rating of "Hold" and a consensus 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.