Invesco Ltd. Acquires 1,444 Shares of InMode Ltd. (NASDAQ:INMD)

Invesco Ltd. boosted its stake in shares of InMode Ltd. (NASDAQ:INMD) by 1.5% during the fourth quarter, Holdings Channel reports. The fund owned 97,475 shares of the healthcare company’s stock after acquiring an additional 1,444 shares during the period. Invesco Ltd.’s holdings in InMode were worth $1,628,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of InMode by 113.5% during the third quarter. Barclays PLC now owns 169,630 shares of the healthcare company’s stock valued at $2,876,000 after purchasing an additional 90,173 shares during the last quarter. Atlas Legacy Advisors LLC acquired a new position in InMode during the 4th quarter worth $848,000. PNC Financial Services Group Inc. boosted its position in InMode by 17.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 21,208 shares of the healthcare company’s stock valued at $354,000 after buying an additional 3,193 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of InMode by 14.6% in the 4th quarter. Principal Financial Group Inc. now owns 99,562 shares of the healthcare company’s stock valued at $1,663,000 after buying an additional 12,661 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of InMode by 4.4% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 68.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on INMD shares. Robert W. Baird cut InMode from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $22.00 to $16.00 in a report on Monday. Jefferies Financial Group reduced their target price on shares of InMode from $16.00 to $15.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. BTIG Research downgraded shares of InMode from a “buy” rating to a “neutral” rating in a research note on Tuesday. Barclays raised their price objective on shares of InMode from $26.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Finally, Baird R W cut shares of InMode from a “strong-buy” rating to a “hold” rating in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $19.38.

InMode Stock Up 1.1 %

Shares of INMD stock opened at $14.42 on Wednesday. InMode Ltd. has a 12-month low of $13.68 and a 12-month high of $19.85. The firm has a fifty day moving average of $17.16 and a 200-day moving average of $17.61. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 6.14 and a beta of 1.96.

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.