Van ECK Associates Corp Reduces Stock Holdings in InMode Ltd. (NASDAQ:INMD)

Van ECK Associates Corp lowered its holdings in InMode Ltd. (NASDAQ:INMD) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,709 shares of the healthcare company’s stock after selling 1,570 shares during the quarter. Van ECK Associates Corp’s holdings in InMode were worth $496,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Systematic Financial Management LP grew its position in InMode by 13.3% during the 3rd quarter. Systematic Financial Management LP now owns 982,111 shares of the healthcare company’s stock worth $16,647,000 after purchasing an additional 115,492 shares during the period. Barclays PLC grew its holdings in InMode by 113.5% during the third quarter. Barclays PLC now owns 169,630 shares of the healthcare company’s stock worth $2,876,000 after acquiring an additional 90,173 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in InMode by 54.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,480 shares of the healthcare company’s stock valued at $2,127,000 after acquiring an additional 44,058 shares in the last quarter. State Street Corp lifted its holdings in InMode by 3.7% in the third quarter. State Street Corp now owns 2,044,640 shares of the healthcare company’s stock valued at $34,657,000 after acquiring an additional 73,183 shares during the period. Finally, Wasatch Advisors LP boosted its position in InMode by 14.6% in the 3rd quarter. Wasatch Advisors LP now owns 421,635 shares of the healthcare company’s stock worth $7,147,000 after purchasing an additional 53,673 shares in the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Price Performance

Shares of INMD stock opened at $18.90 on Friday. InMode Ltd. has a 1-year low of $14.87 and a 1-year high of $23.46. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 8.04 and a beta of 2.13. The stock has a 50 day simple moving average of $17.40 and a 200-day simple moving average of $17.31.

Analysts Set New Price Targets

INMD has been the subject of several recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a report on Tuesday, February 4th. Barclays lifted their price objective on shares of InMode from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.