River Road Asset Management LLC Makes New Investment in InMode Ltd. (NASDAQ:INMD)

River Road Asset Management LLC purchased a new stake in InMode Ltd. (NASDAQ:INMD) in the 4th quarter, Holdings Channel reports. The firm purchased 513,278 shares of the healthcare company’s stock, valued at approximately $8,572,000.

A number of other large investors have also made changes to their positions in the company. Atria Investments Inc bought a new position in InMode during the third quarter worth about $208,000. Meritage Portfolio Management lifted its holdings in shares of InMode by 9.5% during the 3rd quarter. Meritage Portfolio Management now owns 14,765 shares of the healthcare company’s stock valued at $250,000 after purchasing an additional 1,284 shares in the last quarter. North Growth Management Ltd. grew its position in shares of InMode by 0.3% in the 3rd quarter. North Growth Management Ltd. now owns 595,000 shares of the healthcare company’s stock valued at $10,083,000 after purchasing an additional 2,000 shares during the period. Thrivent Financial for Lutherans bought a new stake in InMode during the 3rd quarter worth approximately $201,000. Finally, Intech Investment Management LLC acquired a new stake in InMode during the 3rd quarter worth approximately $526,000. Institutional investors own 68.04% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on INMD. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a report on Tuesday, February 4th. Barclays upped their target price on shares of InMode from $26.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.25.

InMode Stock Down 2.8 %

Shares of INMD opened at $18.81 on Wednesday. InMode Ltd. has a twelve month low of $14.87 and a twelve month high of $22.00. The stock has a market capitalization of $1.31 billion, a P/E ratio of 8.00 and a beta of 2.07. The company has a 50 day moving average of $17.84 and a 200-day moving average of $17.57.

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.