North Growth Management Ltd. Sells 11,000 Shares of InMode Ltd. (NASDAQ:INMD)

North Growth Management Ltd. reduced its holdings in InMode Ltd. (NASDAQ:INMD) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 584,000 shares of the healthcare company’s stock after selling 11,000 shares during the period. InMode makes up about 1.9% of North Growth Management Ltd.’s investment portfolio, making the stock its 22nd largest position. North Growth Management Ltd.’s holdings in InMode were worth $9,760,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of INMD. Systematic Financial Management LP grew its position in InMode by 13.3% in the 3rd quarter. Systematic Financial Management LP now owns 982,111 shares of the healthcare company’s stock worth $16,647,000 after purchasing an additional 115,492 shares during the last quarter. Barclays PLC increased its position 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of InMode by 54.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,480 shares of the healthcare company’s stock valued at $2,127,000 after purchasing an additional 44,058 shares in the last quarter. State Street Corp boosted its stake in InMode by 3.7% during the third quarter. State Street Corp now owns 2,044,640 shares of the healthcare company’s stock worth $34,657,000 after buying an additional 73,183 shares in the last quarter. Finally, Wasatch Advisors LP increased its holdings in InMode by 14.6% in the 3rd quarter. Wasatch Advisors LP now owns 421,635 shares of the healthcare company’s stock valued at $7,147,000 after buying an additional 53,673 shares during the period. 68.04% of the stock is owned by institutional investors.

InMode Price Performance

Shares of INMD opened at $18.04 on Friday. The business’s 50 day simple moving average is $17.36 and its 200-day simple moving average is $17.21. InMode Ltd. has a one year low of $14.87 and a one year high of $26.80. The company has a market capitalization of $1.25 billion, a P/E ratio of 7.68 and a beta of 2.13.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a report on Tuesday, February 4th. BTIG Research initiated coverage on shares of InMode in a research note on Thursday, October 17th. They set a “buy” rating and a $25.00 price target for the company. Finally, Barclays upped their price objective on InMode from $26.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $23.00.

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.