InMode Ltd. (NASDAQ:INMD) Shares Acquired by Renaissance Group LLC

Renaissance Group LLC lifted its stake in InMode Ltd. (NASDAQ:INMD) by 7.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 74,751 shares of the healthcare company’s stock after purchasing an additional 4,949 shares during the quarter. Renaissance Group LLC’s holdings in InMode were worth $1,248,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in INMD. Renaissance Technologies LLC lifted its stake in InMode by 2.3% during the fourth quarter. Renaissance Technologies LLC now owns 2,266,618 shares of the healthcare company’s stock worth $37,853,000 after purchasing an additional 50,200 shares in the last quarter. State Street Corp raised its holdings in shares of InMode by 3.7% in the 3rd quarter. State Street Corp now owns 2,044,640 shares of the healthcare company’s stock valued at $34,657,000 after buying an additional 73,183 shares during the period. Geode Capital Management LLC raised its holdings in shares of InMode by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,101,951 shares of the healthcare company’s stock valued at $18,678,000 after buying an additional 6,282 shares during the period. JPMorgan Chase & Co. lifted its stake in InMode by 4.4% during the 4th quarter. JPMorgan Chase & Co. now owns 1,084,241 shares of the healthcare company’s stock worth $18,107,000 after acquiring an additional 45,638 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in InMode by 0.4% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 808,149 shares of the healthcare company’s stock valued at $13,698,000 after acquiring an additional 3,191 shares during the period. Hedge funds and other institutional investors own 68.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on INMD shares. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research note on Tuesday, February 4th. Barclays upped their target price on shares of InMode from $26.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $22.25.

InMode Price Performance

INMD stock opened at $14.48 on Wednesday. InMode Ltd. has a 1 year low of $14.32 and a 1 year high of $19.85. The firm has a market capitalization of $1.01 billion, a P/E ratio of 6.16 and a beta of 1.96. The business’s 50-day moving average is $18.18 and its two-hundred day moving average is $17.72.

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.