InMode Ltd. (NASDAQ:INMD) Shares Purchased by Verition Fund Management LLC

Verition Fund Management LLC lifted its holdings in InMode Ltd. (NASDAQ:INMD) by 18.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 37,196 shares of the healthcare company’s stock after buying an additional 5,739 shares during the quarter. Verition Fund Management LLC’s holdings in InMode were worth $630,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in INMD. Asset Dedication LLC purchased a new position in InMode in the 2nd quarter worth approximately $33,000. nVerses Capital LLC purchased a new position in shares of InMode in the second quarter valued at $42,000. Nisa Investment Advisors LLC grew its holdings in InMode by 314.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,550 shares of the healthcare company’s stock valued at $60,000 after purchasing an additional 2,694 shares in the last quarter. National Bank of Canada FI increased its stake in InMode by 40.7% during the 2nd quarter. National Bank of Canada FI now owns 9,406 shares of the healthcare company’s stock worth $168,000 after buying an additional 2,720 shares during the period. Finally, GW Henssler & Associates Ltd. acquired a new position in InMode in the 3rd quarter worth $177,000. Hedge funds and other institutional investors own 68.04% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on INMD. Barclays lowered their target price on InMode from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Needham & Company LLC restated a “hold” rating on shares of InMode in a research note on Thursday, October 31st. Finally, BTIG Research began coverage on InMode in a research report on Thursday, October 17th. They issued a “buy” rating and a $25.00 target price on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.60.

InMode Stock Down 1.5 %

NASDAQ:INMD opened at $18.56 on Wednesday. The company has a market cap of $1.56 billion, a PE ratio of 10.03 and a beta of 2.07. The business’s 50 day moving average is $17.84 and its two-hundred day moving average is $17.50. InMode Ltd. has a 52 week low of $14.87 and a 52 week high of $26.80.

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.