ARK Investment Management LLC Sells 6,356 Shares of InMode Ltd. (NASDAQ:INMD)

ARK Investment Management LLC decreased its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 105,836 shares of the healthcare company’s stock after selling 6,356 shares during the period. ARK Investment Management LLC owned approximately 0.13% of InMode worth $1,767,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Atlas Legacy Advisors LLC purchased a new stake in shares of InMode in the 4th quarter valued at about $848,000. D.A. Davidson & CO. raised its stake in InMode by 5.7% in the fourth quarter. D.A. Davidson & CO. now owns 43,651 shares of the healthcare company’s stock valued at $729,000 after purchasing an additional 2,373 shares in the last quarter. Principal Financial Group Inc. raised its stake in InMode by 14.6% in the fourth quarter. Principal Financial Group Inc. now owns 99,562 shares of the healthcare company’s stock valued at $1,663,000 after purchasing an additional 12,661 shares in the last quarter. Harvey Capital Management Inc. grew its stake in InMode by 1.4% in the 4th quarter. Harvey Capital Management Inc. now owns 51,490 shares of the healthcare company’s stock worth $860,000 after buying an additional 700 shares in the last quarter. Finally, Meritage Portfolio Management grew its stake in InMode by 12.3% in the 4th quarter. Meritage Portfolio Management now owns 16,575 shares of the healthcare company’s stock worth $277,000 after buying an additional 1,810 shares in the last quarter. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. 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 report on Wednesday, February 5th. Needham & Company LLC restated a “hold” rating on shares of InMode in a research report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, InMode presently has a consensus rating of “Hold” and a consensus target price of $22.25.

InMode Stock Performance

INMD stock opened at $19.31 on Thursday. InMode Ltd. has a one year low of $14.87 and a one year high of $23.46. The company has a market capitalization of $1.34 billion, a PE ratio of 8.22 and a beta of 2.13. The company’s 50 day moving average price is $17.49 and its two-hundred day moving average price is $17.36.

InMode 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.