Swedbank AB Has $5.90 Million Stock Position in InMode Ltd. (NASDAQ:INMD)

Swedbank AB lessened its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 57.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 348,000 shares of the healthcare company’s stock after selling 468,000 shares during the quarter. Swedbank AB owned 0.41% of InMode worth $5,899,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INMD. Intech Investment Management LLC acquired a new stake in shares of InMode during the third quarter worth about $526,000. Thrivent Financial for Lutherans acquired a new stake in InMode during the 3rd quarter worth approximately $201,000. North Growth Management Ltd. lifted its stake in InMode by 0.3% in the third quarter. North Growth Management Ltd. now owns 595,000 shares of the healthcare company’s stock valued at $10,083,000 after buying an additional 2,000 shares in the last quarter. Meritage Portfolio Management boosted its holdings in shares of InMode by 9.5% in the third quarter. Meritage Portfolio Management now owns 14,765 shares of the healthcare company’s stock valued at $250,000 after buying an additional 1,284 shares during the period. Finally, Atria Investments Inc bought a new stake in shares of InMode during the third quarter worth $208,000. 68.04% of the stock is currently owned by institutional investors.

InMode Stock Up 1.2 %

NASDAQ:INMD opened at $19.49 on Thursday. InMode Ltd. has a 12-month low of $14.87 and a 12-month high of $26.80. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 10.54 and a beta of 2.15. The stock’s 50 day moving average price is $17.53 and its two-hundred day moving average price is $17.49.

Wall Street Analyst Weigh In

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