Geode Capital Management LLC Boosts Holdings in InMode Ltd. (NASDAQ:INMD)

Geode Capital Management LLC lifted its stake in shares of InMode Ltd. (NASDAQ:INMD) by 0.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,101,951 shares of the healthcare company’s stock after acquiring an additional 6,282 shares during the period. Geode Capital Management LLC owned 1.31% of InMode worth $18,678,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Asset Dedication LLC purchased a new position in shares of InMode in the 2nd quarter worth about $33,000. nVerses Capital LLC acquired a new stake in InMode during the 2nd quarter worth approximately $42,000. Nisa Investment Advisors LLC raised its holdings in InMode by 314.7% in the third quarter. Nisa Investment Advisors LLC now owns 3,550 shares of the healthcare company’s stock valued at $60,000 after buying an additional 2,694 shares during the period. Quarry LP lifted its position in InMode by 154.3% during the third quarter. Quarry LP now owns 3,781 shares of the healthcare company’s stock valued at $64,000 after buying an additional 2,294 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in InMode by 40.7% during the second quarter. National Bank of Canada FI now owns 9,406 shares of the healthcare company’s stock worth $168,000 after buying an additional 2,720 shares during the period. 68.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research report on Thursday, October 31st. Barclays dropped their target price on InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Finally, BTIG Research initiated coverage on InMode in a report on Thursday, October 17th. They issued a “buy” rating and a $25.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, InMode presently has an average rating of “Hold” and a consensus target price of $22.60.

InMode Trading Down 1.6 %

NASDAQ INMD opened at $17.02 on Friday. The company has a 50-day moving average price of $18.28 and a two-hundred day moving average price of $17.39. InMode Ltd. has a 52 week low of $14.87 and a 52 week high of $26.80. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 9.20 and a beta of 2.07.

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.