Quarry LP Purchases 3,780 Shares of InMode Ltd. (NASDAQ:INMD)

Quarry LP lifted its position in shares of InMode Ltd. (NASDAQ:INMD) by 100.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,561 shares of the healthcare company’s stock after purchasing an additional 3,780 shares during the period. Quarry LP’s holdings in InMode were worth $126,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in InMode by 2.3% in the fourth quarter. Renaissance Technologies LLC now owns 2,266,618 shares of the healthcare company’s stock worth $37,853,000 after acquiring an additional 50,200 shares during the period. LSV Asset Management raised its position in shares of InMode by 0.4% in the fourth quarter. LSV Asset Management now owns 1,715,071 shares of the healthcare company’s stock valued at $28,642,000 after purchasing an additional 6,300 shares during the period. JPMorgan Chase & Co. raised its position in shares of InMode by 4.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,084,241 shares of the healthcare company’s stock valued at $18,107,000 after purchasing an additional 45,638 shares during the period. River Road Asset Management LLC bought a new stake in shares of InMode in the fourth quarter valued at approximately $8,572,000. Finally, Yelin Lapidot Holdings Management Ltd. raised its position in shares of InMode by 0.6% in the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 308,852 shares of the healthcare company’s stock valued at $5,158,000 after purchasing an additional 1,950 shares during the period. Institutional investors own 68.04% of the company’s stock.

InMode Stock Down 12.1 %

NASDAQ INMD opened at $14.26 on Tuesday. The stock’s 50-day simple moving average is $17.25 and its two-hundred day simple moving average is $17.63. InMode Ltd. has a twelve month low of $13.68 and a twelve month high of $19.85. The company has a market capitalization of $991.91 million, a price-to-earnings ratio of 6.07 and a beta of 1.96.

Analysts Set New Price Targets

Several equities analysts recently commented on INMD shares. 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 note on Wednesday, February 5th. Robert W. Baird cut shares of InMode from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $22.00 to $16.00 in a research note on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research note on Monday. Finally, Jefferies Financial Group cut their price target on shares of InMode from $16.00 to $15.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.20.

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.