InMode Ltd. (NASDAQ:INMD) Shares Sold by Fmr LLC

Fmr LLC cut its stake in shares of InMode Ltd. (NASDAQ:INMD) by 34.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 23,015 shares of the healthcare company’s stock after selling 12,000 shares during the period. Fmr LLC’s holdings in InMode were worth $390,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. North Growth Management Ltd. grew its holdings in InMode by 11.9% during the 2nd quarter. North Growth Management Ltd. now owns 593,000 shares of the healthcare company’s stock worth $10,821,000 after acquiring an additional 63,000 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of InMode by 12.7% during the second quarter. Bank of New York Mellon Corp now owns 279,082 shares of the healthcare company’s stock worth $5,090,000 after purchasing an additional 31,549 shares in the last quarter. ARK Investment Management LLC grew its stake in shares of 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 purchasing an additional 32,369 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. increased its holdings 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 buying an additional 14,533 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in InMode by 10.2% in the second quarter. Principal Financial Group Inc. now owns 94,530 shares of the healthcare company’s stock valued at $1,724,000 after buying an additional 8,763 shares in the last quarter. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

InMode Stock Performance

INMD opened at $17.19 on Friday. InMode Ltd. has a one year low of $14.87 and a one year high of $26.80. The stock has a market capitalization of $1.44 billion, a P/E ratio of 9.29 and a beta of 2.07. The business’s 50-day simple moving average is $18.26 and its 200-day simple moving average is $17.47.

InMode 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.