Virtu Financial LLC Purchases New Shares in InMode Ltd. (NASDAQ:INMD)

Virtu Financial LLC acquired a new position in InMode Ltd. (NASDAQ:INMD) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 12,905 shares of the healthcare company’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INMD. Asset Dedication LLC acquired a new position in shares of InMode in the second quarter worth about $33,000. nVerses Capital LLC purchased a new stake in InMode during the 2nd quarter worth approximately $42,000. Nisa Investment Advisors LLC raised its position in shares of InMode by 314.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,550 shares of the healthcare company’s stock valued at $60,000 after purchasing an additional 2,694 shares in the last quarter. Quarry LP boosted its stake in shares of InMode by 154.3% during the 3rd quarter. Quarry LP now owns 3,781 shares of the healthcare company’s stock valued at $64,000 after buying an additional 2,294 shares during the last quarter. Finally, National Bank of Canada FI grew its position in shares of InMode by 40.7% during the second quarter. National Bank of Canada FI now owns 9,406 shares of the healthcare company’s stock worth $168,000 after buying an additional 2,720 shares in the last quarter. 68.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INMD has been the topic of several recent analyst reports. BTIG Research began coverage on shares of InMode in a report on Thursday, October 17th. They issued a “buy” rating and a $25.00 price target on the stock. Needham & Company LLC restated a “hold” rating on shares of InMode in a research note on Thursday, October 31st. Finally, Barclays reduced their price target on shares of InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, InMode currently has an average rating of “Hold” and a consensus price target of $22.60.

InMode Price Performance

INMD stock opened at $17.15 on Thursday. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 9.27 and a beta of 2.07. InMode Ltd. has a 1-year low of $14.87 and a 1-year high of $26.80. The firm has a fifty day moving average price of $18.24 and a two-hundred day moving average price of $17.47.

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.