Vestcor Inc Purchases New Holdings in InMode Ltd. (NASDAQ:INMD)

Vestcor Inc acquired a new position in shares of InMode Ltd. (NASDAQ:INMD) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 34,718 shares of the healthcare company’s stock, valued at approximately $588,000.

Several other large investors have also recently bought and sold shares of the company. Doma Perpetual Capital Management LLC raised its position in shares of InMode by 210.7% during the second quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company’s stock worth $36,685,000 after acquiring an additional 1,363,841 shares during the last quarter. Federated Hermes Inc. raised its holdings in InMode by 191.9% during the 2nd quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock worth $20,520,000 after purchasing an additional 739,629 shares during the last quarter. Acadian Asset Management LLC lifted its position in InMode by 63.6% during the 2nd quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company’s stock valued at $20,502,000 after purchasing an additional 437,122 shares during the period. Lombard Odier Asset Management Europe Ltd bought a new position in shares of InMode in the 2nd quarter valued at about $4,104,000. Finally, Systematic Financial Management LP grew 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 worth $15,807,000 after buying an additional 222,532 shares during the period. Institutional investors and hedge funds own 68.04% of the company’s stock.

InMode Stock Performance

Shares of NASDAQ:INMD opened at $18.50 on Friday. The company has a 50 day moving average price of $17.97 and a two-hundred day moving average price of $17.50. The company has a market capitalization of $1.55 billion, a PE ratio of 9.98 and a beta of 2.07. InMode Ltd. has a 52 week low of $14.87 and a 52 week high of $26.80.

Analyst Ratings Changes

Several brokerages recently weighed in on INMD. Barclays cut their price objective on shares of InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research note on Thursday, October 31st. Finally, BTIG Research started coverage on InMode in a research note on Thursday, October 17th. They set a “buy” rating and a $25.00 price objective for the company. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $22.60.

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.