Meritage Portfolio Management Acquires 1,284 Shares of InMode Ltd. (NASDAQ:INMD)

Meritage Portfolio Management grew its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 9.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,765 shares of the healthcare company’s stock after buying an additional 1,284 shares during the quarter. Meritage Portfolio Management’s holdings in InMode were worth $250,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its position in InMode by 9.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the healthcare company’s stock valued at $165,000 after purchasing an additional 691 shares during the last quarter. Swiss National Bank grew its stake in shares of InMode by 1.3% in the first quarter. Swiss National Bank now owns 158,500 shares of the healthcare company’s stock valued at $3,425,000 after buying an additional 2,000 shares in the last quarter. Headlands Technologies LLC increased its holdings in InMode by 118.2% during the first quarter. Headlands Technologies LLC now owns 1,916 shares of the healthcare company’s stock worth $41,000 after buying an additional 1,038 shares during the last quarter. ProShare Advisors LLC raised its position in InMode by 8.5% during the first quarter. ProShare Advisors LLC now owns 13,920 shares of the healthcare company’s stock worth $301,000 after acquiring an additional 1,094 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in InMode by 16.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 439,365 shares of the healthcare company’s stock valued at $9,495,000 after acquiring an additional 61,263 shares during the last quarter. 68.04% of the stock is currently owned by institutional investors and hedge funds.

InMode Price Performance

Shares of NASDAQ INMD opened at $19.50 on Tuesday. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 10.49 and a beta of 2.15. The stock’s fifty day moving average price is $16.92 and its two-hundred day moving average price is $17.39. InMode Ltd. has a one year low of $14.87 and a one year high of $26.80.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group cut shares of InMode from a “buy” rating to a “hold” rating and dropped their target price for the company from $21.00 to $19.00 in a report on Tuesday, July 23rd. Barclays dropped their price objective on InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research note on Thursday, October 31st. Finally, BTIG Research started coverage on InMode in a report on Thursday, October 17th. They set a “buy” rating and a $25.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.60.

About InMode

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.