Quantbot Technologies LP Takes Position in InMode Ltd. (NASDAQ:INMD)

Quantbot Technologies LP bought a new stake in InMode Ltd. (NASDAQ:INMD) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 65,153 shares of the healthcare company’s stock, valued at approximately $1,104,000.

A number of other institutional investors and hedge funds have also made changes to their positions in INMD. Asset Dedication LLC purchased a new stake in InMode during the 2nd quarter valued at approximately $33,000. nVerses Capital LLC purchased a new stake in shares of InMode during the second quarter worth approximately $42,000. Nisa Investment Advisors LLC lifted its holdings in shares of InMode by 314.7% during the third quarter. Nisa Investment Advisors LLC now owns 3,550 shares of the healthcare company’s stock worth $60,000 after purchasing an additional 2,694 shares during the period. National Bank of Canada FI grew its position in InMode by 40.7% in the 2nd quarter. National Bank of Canada FI now owns 9,406 shares of the healthcare company’s stock valued at $168,000 after buying an additional 2,720 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in InMode in the 1st quarter valued at $171,000. 68.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

INMD has been the subject of several recent analyst reports. BTIG Research assumed coverage on shares of InMode in a research note on Thursday, October 17th. They issued a “buy” rating and a $25.00 target price for the company. Needham & Company LLC restated a “hold” rating on shares of InMode in a research report on Thursday, October 31st. Finally, Barclays cut 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. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $22.60.

InMode Trading Up 0.2 %

Shares of InMode stock opened at $19.53 on Friday. The company has a 50-day moving average of $17.60 and a two-hundred day moving average of $17.50. The stock has a market cap of $1.64 billion, a PE ratio of 10.56 and a beta of 2.15. InMode Ltd. has a 12-month low of $14.87 and a 12-month 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.