Public Employees Retirement System of Ohio Buys New Shares in InMode Ltd. (NASDAQ:INMD)

Public Employees Retirement System of Ohio purchased a new stake in shares of InMode Ltd. (NASDAQ:INMD) in the 3rd quarter, Holdings Channel reports. The fund purchased 27,240 shares of the healthcare company’s stock, valued at approximately $462,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its holdings in shares of InMode by 12.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 279,082 shares of the healthcare company’s stock valued at $5,090,000 after buying an additional 31,549 shares during the last quarter. ARK Investment Management LLC raised its position in InMode by 35.0% during the second quarter. ARK Investment Management LLC now owns 124,905 shares of the healthcare company’s stock worth $2,278,000 after acquiring an additional 32,369 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. lifted its stake in InMode by 5.1% in the second quarter. Yelin Lapidot Holdings Management Ltd. now owns 298,152 shares of the healthcare company’s stock valued at $5,438,000 after acquiring an additional 14,533 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of InMode by 10.2% in the 2nd quarter. Principal Financial Group Inc. now owns 94,530 shares of the healthcare company’s stock valued at $1,724,000 after acquiring an additional 8,763 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of InMode during the 2nd quarter worth about $367,000. 68.04% of the stock is currently owned by institutional investors.

InMode Stock Down 0.6 %

Shares of NASDAQ:INMD opened at $17.08 on Friday. InMode Ltd. has a 12-month low of $14.87 and a 12-month high of $26.80. The business has a 50 day moving average of $18.28 and a 200-day moving average of $17.45. The stock has a market cap of $1.43 billion, a PE ratio of 9.23 and a beta of 2.07.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research note on Thursday, October 31st. BTIG Research started coverage on InMode in a research report on Thursday, October 17th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Barclays decreased their target price on InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $22.60.

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.