Swedbank AB Sells 468,000 Shares of InMode Ltd. (NASDAQ:INMD)

Swedbank AB reduced its stake in InMode Ltd. (NASDAQ:INMD) by 57.4% during the 3rd quarter, Holdings Channel reports. The fund owned 348,000 shares of the healthcare company’s stock after selling 468,000 shares during the period. Swedbank AB’s holdings in InMode were worth $5,899,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Asset Dedication LLC acquired a new position in shares of InMode in the second quarter valued at about $33,000. nVerses Capital LLC acquired a new position in shares of InMode during the 2nd quarter worth approximately $42,000. Nisa Investment Advisors LLC increased its holdings in shares of InMode by 314.7% during the third quarter. Nisa Investment Advisors LLC now owns 3,550 shares of the healthcare company’s stock worth $60,000 after purchasing an additional 2,694 shares during the period. EMC Capital Management acquired a new stake in shares of InMode in the first quarter valued at approximately $90,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of InMode in the first quarter valued at approximately $171,000. Institutional investors own 68.04% of the company’s stock.

InMode Stock Up 1.2 %

Shares of INMD stock opened at $19.49 on Thursday. The business has a fifty day simple moving average of $17.53 and a 200 day simple moving average of $17.49. The company has a market cap of $1.64 billion, a P/E ratio of 10.54 and a beta of 2.15. InMode Ltd. has a twelve month low of $14.87 and a twelve month high of $26.80.

Analysts Set New Price Targets

INMD has been the topic of a number of recent research reports. BTIG Research began coverage on InMode in a research note on Thursday, October 17th. They set a “buy” rating and a $25.00 price objective on the stock. Needham & Company LLC restated a “hold” rating on shares of InMode in a research report on Thursday, October 31st. Finally, Barclays cut 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, InMode presently has an average rating of “Hold” and an average price target of $22.60.

InMode Company 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.