Meritage Portfolio Management Purchases 1,284 Shares of InMode Ltd. (NASDAQ:INMD)

Meritage Portfolio Management raised its position in InMode Ltd. (NASDAQ:INMD) by 9.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 14,765 shares of the healthcare company’s stock after buying an additional 1,284 shares during the period. Meritage Portfolio Management’s holdings in InMode were worth $250,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Atria Investments Inc bought a new position in InMode in the 3rd quarter valued at approximately $208,000. Carmel Capital Partners LLC raised its stake in shares of InMode by 6.9% during the third quarter. Carmel Capital Partners LLC now owns 11,511 shares of the healthcare company’s stock valued at $195,000 after acquiring an additional 741 shares during the last quarter. Easterly Investment Partners LLC lifted its holdings in shares of InMode by 26.6% during the third quarter. Easterly Investment Partners LLC now owns 121,589 shares of the healthcare company’s stock worth $2,061,000 after purchasing an additional 25,579 shares during the period. Harvey Capital Management Inc. grew its stake in shares of InMode by 57.1% in the third quarter. Harvey Capital Management Inc. now owns 50,790 shares of the healthcare company’s stock worth $861,000 after purchasing an additional 18,450 shares during the last quarter. Finally, EMC Capital Management increased its holdings in InMode by 219.4% in the third quarter. EMC Capital Management now owns 13,319 shares of the healthcare company’s stock valued at $226,000 after purchasing an additional 9,149 shares during the period. 68.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

INMD has been the subject of a number of analyst reports. Jefferies Financial Group downgraded shares of InMode from a “buy” rating to a “hold” rating and lowered their target price for the stock from $21.00 to $19.00 in a research note on Tuesday, July 23rd. BTIG Research initiated coverage on InMode in a research note on Thursday, October 17th. They set a “buy” rating and a $25.00 target price for the company. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research note on Thursday, October 31st. Finally, Barclays reduced their price objective on shares of InMode from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $22.60.

InMode Stock Up 0.5 %

INMD opened at $19.50 on Tuesday. The firm has a 50-day moving average price of $16.92 and a 200-day moving average price of $17.39. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 10.49 and a beta of 2.15. InMode Ltd. has a twelve month low of $14.87 and a twelve 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.