Cambridge Investment Research Advisors Inc. reduced its position in shares of InMode Ltd. (NASDAQ:INMD – Free Report) by 7.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,351 shares of the healthcare company’s stock after selling 2,234 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in InMode were worth $984,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of INMD. JPMorgan Chase & Co. boosted its stake in shares of InMode by 122.3% during the 1st quarter. JPMorgan Chase & Co. now owns 79,333 shares of the healthcare company’s stock worth $2,928,000 after acquiring an additional 43,646 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in InMode by 3.9% in the 1st quarter. Bank of New York Mellon Corp now owns 110,994 shares of the healthcare company’s stock valued at $4,095,000 after buying an additional 4,217 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in InMode by 22.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 13,087 shares of the healthcare company’s stock valued at $484,000 after buying an additional 2,416 shares in the last quarter. Natixis Advisors L.P. lifted its stake in InMode by 6.1% in the 1st quarter. Natixis Advisors L.P. now owns 18,591 shares of the healthcare company’s stock valued at $686,000 after buying an additional 1,076 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new position in InMode in the 1st quarter valued at about $925,000. 65.49% of the stock is owned by hedge funds and other institutional investors.
InMode Price Performance
Shares of NASDAQ INMD opened at $28.24 on Friday. The company has a 50 day simple moving average of $37.15 and a 200-day simple moving average of $36.40. The company has a market capitalization of $2.34 billion, a P/E ratio of 13.20 and a beta of 2.17. InMode Ltd. has a 1 year low of $27.60 and a 1 year high of $48.25.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on INMD. Robert W. Baird raised their price target on shares of InMode from $53.00 to $61.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Barclays increased their price objective on shares of InMode from $47.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, August 1st. Finally, Canaccord Genuity Group increased their price objective on shares of InMode from $47.00 to $55.00 and gave the company a “buy” rating in a report on Friday, July 28th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, InMode currently has an average rating of “Moderate Buy” and an average price target of $51.67.
Read Our Latest Research Report on INMD
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.
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