Canada Pension Plan Investment Board Has $642,000 Holdings in InMode Ltd. (NASDAQ:INMD)

Posted by on Mar 2nd, 2023

Canada Pension Plan Investment Board lifted its stake in InMode Ltd. (NASDAQ:INMD – Get Rating) by 359.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,070 shares of the healthcare company’s stock after buying an additional 17,270 shares during the period. Canada Pension Plan Investment Board’s holdings in InMode were worth $642,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of INMD. Boston Partners increased its holdings in InMode by 2.0% during the 3rd quarter. Boston Partners now owns 29,614 shares of the healthcare company’s stock valued at $862,000 after purchasing an additional 590 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in InMode during the 2nd quarter valued at $5,479,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in InMode by 614.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,947 shares of the healthcare company’s stock valued at $828,000 after purchasing an additional 31,773 shares in the last quarter. Duality Advisers LP increased its holdings in InMode by 52.6% during the 2nd quarter. Duality Advisers LP now owns 35,518 shares of the healthcare company’s stock valued at $796,000 after purchasing an additional 12,241 shares in the last quarter. Finally, ARK Investment Management LLC increased its holdings in InMode by 12.2% during the 3rd quarter. ARK Investment Management LLC now owns 82,607 shares of the healthcare company’s stock valued at $2,405,000 after purchasing an additional 8,970 shares in the last quarter. 55.24% of the stock is owned by institutional investors and hedge funds.

InMode Stock Performance

Shares of INMD opened at $34.31 on Thursday. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 18.06 and a beta of 2.12. The business’s fifty day moving average price is $35.56 and its two-hundred day moving average price is $34.28. InMode Ltd. has a 52 week low of $20.60 and a 52 week high of $43.56.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on INMD shares. Barclays raised their price target on InMode from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, February 15th. Needham & Company LLC cut InMode from a “buy” rating to a “hold” rating in a report on Friday, February 17th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, InMode has an average rating of “Moderate Buy” and an average target price of $46.33.

About InMode

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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.

See Also

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Institutional Ownership by Quarter for InMode (NASDAQ:INMD)

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