Quarry LP Grows Stock Position in InMode Ltd. (NASDAQ:INMD)

Quarry LP lifted its stake in InMode Ltd. (NASDAQ:INMD) by 100.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,561 shares of the healthcare company’s stock after buying an additional 3,780 shares during the period. Quarry LP’s holdings in InMode were worth $126,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of INMD. River Road Asset Management LLC purchased a new position in shares of InMode in the fourth quarter worth about $8,572,000. Norges Bank purchased a new position in shares of InMode in the fourth quarter worth about $2,943,000. Seizert Capital Partners LLC increased its holdings in shares of InMode by 105.2% in the fourth quarter. Seizert Capital Partners LLC now owns 250,627 shares of the healthcare company’s stock worth $4,185,000 after buying an additional 128,483 shares during the period. Barclays PLC increased its holdings in shares of InMode by 113.5% in the third quarter. Barclays PLC now owns 169,630 shares of the healthcare company’s stock worth $2,876,000 after buying an additional 90,173 shares during the period. Finally, Trexquant Investment LP increased its holdings in shares of InMode by 105.0% in the fourth quarter. Trexquant Investment LP now owns 170,486 shares of the healthcare company’s stock worth $2,847,000 after buying an additional 87,305 shares during the period. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Stock Performance

InMode stock opened at $14.26 on Tuesday. The stock’s 50 day simple moving average is $17.25 and its two-hundred day simple moving average is $17.63. The stock has a market cap of $991.91 million, a price-to-earnings ratio of 6.07 and a beta of 1.96. InMode Ltd. has a fifty-two week low of $13.68 and a fifty-two week high of $19.85.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Robert W. Baird downgraded InMode from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $22.00 to $16.00 in a report on Monday. Needham & Company LLC restated a “hold” rating on shares of InMode in a report on Monday. Barclays boosted their price target on InMode from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Finally, Jefferies Financial Group reduced their price target on InMode from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, InMode currently has a consensus rating of “Hold” and a consensus price target of $20.20.

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.