Pilgrim Partners Asia Pte Ltd Takes Position in InMode Ltd. (NASDAQ:INMD)

Pilgrim Partners Asia Pte Ltd purchased a new position in shares of InMode Ltd. (NASDAQ:INMD) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 6,800 shares of the healthcare company’s stock, valued at approximately $114,000.

A number of other large investors have also recently made changes to their positions in INMD. National Bank of Canada FI lifted its stake in InMode by 6.2% in the third quarter. National Bank of Canada FI now owns 9,985 shares of the healthcare company’s stock worth $169,000 after purchasing an additional 579 shares during the last quarter. Harvey Capital Management Inc. lifted its stake in shares of InMode by 1.4% during the 4th quarter. Harvey Capital Management Inc. now owns 51,490 shares of the healthcare company’s stock worth $860,000 after acquiring an additional 700 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of InMode by 6.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 12,586 shares of the healthcare company’s stock worth $210,000 after acquiring an additional 721 shares during the last quarter. Franklin Resources Inc. boosted its holdings in InMode by 4.6% during the 3rd quarter. Franklin Resources Inc. now owns 17,559 shares of the healthcare company’s stock valued at $292,000 after acquiring an additional 768 shares during the period. Finally, Farther Finance Advisors LLC grew its position in InMode by 26.2% in the 4th quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company’s stock valued at $93,000 after acquiring an additional 1,154 shares during the last quarter. 68.04% of the stock is owned by hedge funds and other institutional investors.

InMode Stock Down 3.6 %

Shares of NASDAQ:INMD opened at $15.71 on Friday. The firm has a 50 day moving average of $18.33 and a 200 day moving average of $17.78. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 6.69 and a beta of 2.08. InMode Ltd. has a 52 week low of $14.87 and a 52 week high of $20.01.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Tuesday, February 4th. Barclays boosted their price objective on shares of InMode from $26.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $22.25.

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.