Tidal Investments LLC Purchases 3,140 Shares of InMode Ltd. (NASDAQ:INMD)

Tidal Investments LLC boosted its position in shares of InMode Ltd. (NASDAQ:INMD) by 4.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 71,039 shares of the healthcare company’s stock after buying an additional 3,140 shares during the quarter. Tidal Investments LLC’s holdings in InMode were worth $1,204,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in shares of InMode by 11.6% in the second quarter. Renaissance Technologies LLC now owns 2,068,396 shares of the healthcare company’s stock valued at $37,728,000 after acquiring an additional 214,200 shares during the period. State Street Corp increased its holdings in InMode by 3.7% during the 3rd quarter. State Street Corp now owns 2,044,640 shares of the healthcare company’s stock valued at $34,657,000 after purchasing an additional 73,183 shares during the period. Doma Perpetual Capital Management LLC raised its position in InMode by 210.7% during the 2nd quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company’s stock valued at $36,685,000 after purchasing an additional 1,363,841 shares during the last quarter. DDD Partners LLC lifted its holdings in InMode by 19.4% in the 2nd quarter. DDD Partners LLC now owns 1,266,678 shares of the healthcare company’s stock worth $23,104,000 after buying an additional 205,947 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of InMode by 191.9% in the 2nd quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock worth $20,520,000 after buying an additional 739,629 shares during the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on INMD shares. BTIG Research began coverage on InMode in a report on Thursday, October 17th. They set a “buy” rating and a $25.00 target price for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research report on Thursday, October 31st. Finally, Barclays cut their target price on shares of InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Four research 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 stock has an average rating of “Hold” and a consensus target price of $22.60.

InMode Trading Down 3.8 %

Shares of INMD stock opened at $17.15 on Thursday. The company’s fifty day moving average price is $18.24 and its 200-day moving average price is $17.47. The stock has a market cap of $1.44 billion, a PE ratio of 9.27 and a beta of 2.07. InMode Ltd. has a 12 month low of $14.87 and a 12 month high of $26.80.

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.