Orion Portfolio Solutions LLC Invests $194,000 in InMode Ltd. (NASDAQ:INMD)

Orion Portfolio Solutions LLC purchased a new stake in InMode Ltd. (NASDAQ:INMD) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,461 shares of the healthcare company’s stock, valued at approximately $194,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in InMode in the third quarter worth about $286,000. National Bank of Canada FI grew its position in shares of InMode by 6.2% during the 3rd quarter. National Bank of Canada FI now owns 9,985 shares of the healthcare company’s stock worth $169,000 after buying an additional 579 shares during the period. Villanova Investment Management Co LLC raised its stake in shares of InMode by 12.2% during the third quarter. Villanova Investment Management Co LLC now owns 82,984 shares of the healthcare company’s stock worth $1,407,000 after buying an additional 9,014 shares during the last quarter. State Street Corp lifted its holdings in InMode by 3.7% in the third quarter. State Street Corp now owns 2,044,640 shares of the healthcare company’s stock valued at $34,657,000 after buying an additional 73,183 shares during the period. Finally, Systematic Financial Management LP lifted its holdings in InMode by 13.3% in the third quarter. Systematic Financial Management LP now owns 982,111 shares of the healthcare company’s stock valued at $16,647,000 after buying an additional 115,492 shares during the period. Institutional investors and hedge funds own 68.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on INMD shares. BTIG Research started coverage on shares of InMode in a research report on Thursday, October 17th. They set a “buy” rating and a $25.00 target price for the company. Barclays dropped their price objective 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 restated a “hold” rating on shares of InMode in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.60.

InMode Stock Down 0.6 %

INMD opened at $17.08 on Friday. The stock has a market cap of $1.43 billion, a P/E 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. The company has a fifty day simple moving average of $18.28 and a 200 day simple moving average of $17.45.

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.