Thrivent Financial for Lutherans Makes New Investment in InMode Ltd. (NASDAQ:INMD)

Thrivent Financial for Lutherans purchased a new stake in shares of InMode Ltd. (NASDAQ:INMD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,865 shares of the healthcare company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Asset Dedication LLC bought a new stake in shares of InMode during the 2nd quarter worth about $33,000. nVerses Capital LLC bought a new stake in InMode during the second quarter worth approximately $42,000. Nisa Investment Advisors LLC grew its holdings in InMode by 314.7% during the third quarter. Nisa Investment Advisors LLC now owns 3,550 shares of the healthcare company’s stock valued at $60,000 after purchasing an additional 2,694 shares during the last quarter. National Bank of Canada FI raised its position in shares of InMode by 40.7% in the second quarter. National Bank of Canada FI now owns 9,406 shares of the healthcare company’s stock valued at $168,000 after purchasing an additional 2,720 shares during the period. Finally, GW Henssler & Associates Ltd. acquired a new stake in shares of InMode in the third quarter worth $177,000. Institutional investors and hedge funds own 68.04% of the company’s stock.

InMode Stock Performance

NASDAQ:INMD opened at $18.13 on Friday. The firm’s 50-day moving average is $17.81 and its 200-day moving average is $17.51. InMode Ltd. has a 52-week low of $14.87 and a 52-week high of $26.80. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 9.80 and a beta of 2.07.

Analyst Upgrades and Downgrades

Several research analysts recently commented on INMD shares. BTIG Research initiated coverage on shares of InMode in a report on Thursday, October 17th. They issued a “buy” rating and a $25.00 target price on the stock. Barclays dropped their price objective on InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Finally, Needham & Company LLC restated a “hold” rating on shares of InMode in a research note on Thursday, October 31st. Four investment 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 stock presently has an average rating of “Hold” and an average target price of $22.60.

About InMode

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.