InMode Ltd. (NASDAQ:INMD) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 8.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,901 shares of the healthcare company’s stock after selling 7,629 shares during the period. Principal Financial Group Inc. owned about 0.10% of InMode worth $1,473,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Doma Perpetual Capital Management LLC lifted its stake in InMode by 210.7% in the second quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company’s stock worth $36,685,000 after acquiring an additional 1,363,841 shares during the last quarter. Swedbank AB purchased a new stake in shares of InMode during the 1st quarter worth $17,634,000. Federated Hermes Inc. grew its stake in shares of InMode by 191.9% during the second quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock worth $20,520,000 after purchasing an additional 739,629 shares in the last quarter. Acadian Asset Management LLC increased its holdings in InMode by 63.6% in the second quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company’s stock valued at $20,502,000 after buying an additional 437,122 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd purchased a new stake in InMode during the 2nd quarter worth about $4,104,000. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Trading Up 2.9 %

Shares of INMD opened at $19.02 on Friday. The company’s 50 day simple moving average is $17.40 and its 200-day simple moving average is $17.46. The firm has a market cap of $1.60 billion, a PE ratio of 10.28 and a beta of 2.15. InMode Ltd. has a 12-month low of $14.87 and a 12-month high of $26.80.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays dropped their price objective on InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Needham & Company LLC restated a “hold” rating on shares of InMode in a research report on Thursday, October 31st. Finally, BTIG Research began coverage on shares of InMode in a report on Thursday, October 17th. They issued a “buy” rating and a $25.00 target price for the company. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, InMode has an average rating of “Hold” and an average target price of $22.60.

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.