Covestor Ltd Has $99,000 Stock Holdings in InMode Ltd. (NASDAQ:INMD)

Covestor Ltd grew its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 13.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,936 shares of the healthcare company’s stock after purchasing an additional 723 shares during the period. Covestor Ltd’s holdings in InMode were worth $99,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in InMode in the fourth quarter valued at approximately $87,000. Farther Finance Advisors LLC increased its stake in shares of InMode by 26.2% in the fourth quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company’s stock valued at $93,000 after buying an additional 1,154 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new position in InMode during the 4th quarter worth approximately $114,000. National Bank of Canada FI raised its stake in InMode by 6.2% during the third 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 last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of InMode in the 4th quarter worth about $174,000. Institutional investors own 68.04% of the company’s stock.

Analysts Set New Price Targets

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

InMode Price Performance

Shares of InMode stock opened at $14.88 on Friday. The stock has a fifty day moving average price of $18.01 and a 200-day moving average price of $17.67. The firm has a market cap of $1.04 billion, a PE ratio of 6.33 and a beta of 1.96. InMode Ltd. has a 1 year low of $13.68 and a 1 year high of $19.85.

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.