Martingale Asset Management L P Buys 37,135 Shares of InMode Ltd. (NASDAQ:INMD)

Martingale Asset Management L P grew its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 147.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,360 shares of the healthcare company’s stock after acquiring an additional 37,135 shares during the quarter. Martingale Asset Management L P’s holdings in InMode were worth $1,057,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Systematic Financial Management LP boosted its position in shares of InMode by 34.5% during the 2nd quarter. Systematic Financial Management LP now owns 866,619 shares of the healthcare company’s stock valued at $15,807,000 after acquiring an additional 222,532 shares during the last quarter. ARK Investment Management LLC boosted its position in shares of InMode by 35.0% during the 2nd quarter. ARK Investment Management LLC now owns 124,905 shares of the healthcare company’s stock valued at $2,278,000 after acquiring an additional 32,369 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of InMode by 129.7% during the 2nd quarter. Hsbc Holdings PLC now owns 90,280 shares of the healthcare company’s stock valued at $1,659,000 after acquiring an additional 50,974 shares during the last quarter. North Growth Management Ltd. boosted its position in shares of InMode by 11.9% during the 2nd quarter. North Growth Management Ltd. now owns 593,000 shares of the healthcare company’s stock valued at $10,821,000 after acquiring an additional 63,000 shares during the last quarter. Finally, Means Investment CO. Inc. bought a new stake in shares of InMode during the 2nd quarter valued at about $285,000. Institutional investors own 68.04% of the company’s stock.

InMode Trading Up 0.2 %

Shares of NASDAQ INMD opened at $19.53 on Monday. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 10.56 and a beta of 2.15. InMode Ltd. has a 1-year low of $14.87 and a 1-year high of $26.80. The stock’s 50-day moving average is $17.60 and its 200 day moving average is $17.49.

Analyst Ratings Changes

INMD has been the subject of a number of research analyst reports. BTIG Research initiated 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. Barclays decreased their price objective on 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 reissued a “hold” rating on shares of InMode in a report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $22.60.

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.