Quantbot Technologies LP Makes New $1.10 Million Investment in InMode Ltd. (NASDAQ:INMD)

Quantbot Technologies LP purchased a new position in shares of InMode Ltd. (NASDAQ:INMD) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 65,153 shares of the healthcare company’s stock, valued at approximately $1,104,000. Quantbot Technologies LP owned about 0.08% of InMode as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. D.A. Davidson & CO. lifted its position in InMode by 10.5% in the third quarter. D.A. Davidson & CO. now owns 41,278 shares of the healthcare company’s stock valued at $700,000 after buying an additional 3,915 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of InMode in the third quarter valued at approximately $526,000. Thrivent Financial for Lutherans purchased a new stake in InMode during the 3rd quarter worth approximately $201,000. North Growth Management Ltd. lifted its holdings in InMode by 0.3% during the 3rd quarter. North Growth Management Ltd. now owns 595,000 shares of the healthcare company’s stock worth $10,083,000 after buying an additional 2,000 shares in the last quarter. Finally, Meritage Portfolio Management increased its position in shares of InMode by 9.5% during the third quarter. Meritage Portfolio Management now owns 14,765 shares of the healthcare company’s stock worth $250,000 after acquiring an additional 1,284 shares during the period. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. BTIG Research started coverage on shares of InMode in a report on Thursday, October 17th. They issued a “buy” rating and a $25.00 target price on the stock. Barclays reduced their price objective on shares of InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.60.

InMode Trading Up 0.2 %

Shares of InMode stock opened at $19.53 on Friday. The company has a fifty day simple moving average of $17.60 and a 200-day simple moving average of $17.50. InMode Ltd. has a 12-month low of $14.87 and a 12-month high of $26.80. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 10.56 and a beta of 2.15.

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.