State Street Corp Has $34.66 Million Stake in InMode Ltd. (NASDAQ:INMD)

State Street Corp increased its position in InMode Ltd. (NASDAQ:INMD) by 3.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,044,640 shares of the healthcare company’s stock after acquiring an additional 73,183 shares during the period. State Street Corp’s holdings in InMode were worth $34,657,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INMD. Asset Dedication LLC acquired a new position in shares of InMode during the 2nd quarter worth $33,000. nVerses Capital LLC acquired a new position in InMode during the second quarter worth $42,000. Nisa Investment Advisors LLC raised its holdings in InMode by 314.7% during the third quarter. Nisa Investment Advisors LLC now owns 3,550 shares of the healthcare company’s stock valued at $60,000 after buying an additional 2,694 shares in the last quarter. Quarry LP lifted its position in shares of InMode by 154.3% in the third quarter. Quarry LP now owns 3,781 shares of the healthcare company’s stock worth $64,000 after buying an additional 2,294 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of 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 acquiring an additional 2,720 shares in the last quarter. Institutional investors own 68.04% of the company’s stock.

InMode Stock Down 0.6 %

Shares of INMD stock opened at $17.08 on Friday. The stock has a 50 day moving average of $18.28 and a 200-day moving average of $17.45. The firm has a market cap of $1.43 billion, a PE ratio of 9.23 and a beta of 2.07. InMode Ltd. has a 12 month low of $14.87 and a 12 month high of $26.80.

Wall Street Analysts Forecast Growth

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

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.