Martingale Asset Management L P Increases Holdings in InMode Ltd. (NASDAQ:INMD)

Martingale Asset Management L P grew its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 147.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,360 shares of the healthcare company’s stock after purchasing an additional 37,135 shares during the quarter. Martingale Asset Management L P owned approximately 0.07% of InMode worth $1,057,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Renaissance Technologies LLC increased its position in shares of InMode by 11.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,068,396 shares of the healthcare company’s stock valued at $37,728,000 after purchasing an additional 214,200 shares during the last quarter. Doma Perpetual Capital Management LLC increased its position in shares of InMode by 210.7% during the 2nd quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company’s stock valued at $36,685,000 after purchasing an additional 1,363,841 shares during the last quarter. DDD Partners LLC increased its position in shares of InMode by 19.4% during the 2nd quarter. DDD Partners LLC now owns 1,266,678 shares of the healthcare company’s stock valued at $23,104,000 after purchasing an additional 205,947 shares during the last quarter. Federated Hermes Inc. increased its position in shares of InMode by 191.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock valued at $20,520,000 after purchasing an additional 739,629 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of InMode by 63.6% during the 2nd quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company’s stock valued at $20,502,000 after purchasing an additional 437,122 shares during the last quarter. 68.04% of the stock is owned by hedge funds and other institutional investors.

InMode Stock Up 0.2 %

Shares of NASDAQ INMD opened at $19.53 on Monday. InMode Ltd. has a 52 week low of $14.87 and a 52 week high of $26.80. The business has a 50-day simple moving average of $17.60 and a two-hundred day simple moving average of $17.49. The company has a market cap of $1.64 billion, a P/E ratio of 10.56 and a beta of 2.15.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on INMD. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research note on Thursday, October 31st. Barclays cut their price target on InMode from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Finally, BTIG Research began coverage on InMode in a research note on Thursday, October 17th. They set 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.