Meitav Investment House Ltd. Decreases Stake in InMode Ltd. (NASDAQ:INMD)

Meitav Investment House Ltd. cut its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 1.3% in the 4th quarter, Holdings Channel reports. The fund owned 1,334,405 shares of the healthcare company’s stock after selling 17,403 shares during the period. Meitav Investment House Ltd.’s holdings in InMode were worth $22,269,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Systematic Financial Management LP boosted its holdings in InMode by 13.3% in the third quarter. Systematic Financial Management LP now owns 982,111 shares of the healthcare company’s stock valued at $16,647,000 after purchasing an additional 115,492 shares during the last quarter. Barclays PLC raised its position in shares of InMode by 113.5% in the 3rd quarter. Barclays PLC now owns 169,630 shares of the healthcare company’s stock valued at $2,876,000 after purchasing an additional 90,173 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of InMode by 12.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 720,750 shares of the healthcare company’s stock valued at $12,217,000 after buying an additional 82,100 shares during the last quarter. State Street Corp boosted its stake in shares of InMode by 3.7% during the 3rd quarter. State Street Corp now owns 2,044,640 shares of the healthcare company’s stock valued at $34,657,000 after buying an additional 73,183 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of InMode during the third quarter worth approximately $1,104,000. 68.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INMD has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of InMode from $26.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Needham & Company LLC restated a “hold” rating on shares of InMode in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $22.25.

InMode Price Performance

INMD stock opened at $19.40 on Thursday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 8.26 and a beta of 2.13. InMode Ltd. has a 1-year low of $14.87 and a 1-year high of $23.46. The firm has a fifty day moving average price of $17.36 and a two-hundred day moving average price of $17.26.

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.