Wasatch Advisors LP Acquires 53,673 Shares of InMode Ltd. (NASDAQ:INMD)

Wasatch Advisors LP boosted its holdings in InMode Ltd. (NASDAQ:INMD - Free Report) by 14.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 421,635 shares of the healthcare company's stock after purchasing an additional 53,673 shares during the quarter. Wasatch Advisors LP owned approximately 0.50% of InMode worth $7,147,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Asset Dedication LLC acquired a new stake in shares of InMode during the 2nd quarter worth approximately $33,000. nVerses Capital LLC acquired a new stake in InMode in the second quarter worth $42,000. Nisa Investment Advisors LLC lifted its stake in InMode by 314.7% in the third quarter. Nisa Investment Advisors LLC now owns 3,550 shares of the healthcare company's stock valued at $60,000 after buying an additional 2,694 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of InMode by 40.7% during the second quarter. National Bank of Canada FI now owns 9,406 shares of the healthcare company's stock valued at $168,000 after acquiring an additional 2,720 shares during the period. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of InMode during the first quarter valued at $171,000. Institutional investors own 68.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on INMD shares. Barclays cut their price objective on shares of InMode from $29.00 to $27.00 and set an "overweight" rating on the stock in a research report on Monday, October 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of InMode in a research note on Thursday, October 31st. Finally, BTIG Research assumed coverage on InMode in a report on Thursday, October 17th. They issued a "buy" rating and a $25.00 price target on the stock. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $22.60.

InMode Stock Up 0.2 %

Shares of InMode stock traded up $0.04 on Friday, hitting $19.53. 559,502 shares of the company traded hands, compared to its average volume of 1,092,510. InMode Ltd. has a 12-month low of $14.87 and a 12-month high of $26.80. The company has a 50-day moving average price of $17.60 and a 200 day moving average price of $17.49. The company has a market cap of $1.64 billion, a PE ratio of 10.56 and a beta of 2.15.

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.