State of New Jersey Common Pension Fund D reduced its position in InMode Ltd. (NASDAQ:INMD – Get Rating) by 29.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,518 shares of the healthcare company’s stock after selling 31,128 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.09% of InMode worth $1,692,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Prospera Financial Services Inc bought a new position in shares of InMode in the 1st quarter worth $25,000. Trust Co. of Vermont bought a new position in InMode during the 2nd quarter valued at $26,000. CWM LLC lifted its stake in InMode by 44.6% during the 2nd quarter. CWM LLC now owns 1,138 shares of the healthcare company’s stock valued at $26,000 after acquiring an additional 351 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in InMode during the 1st quarter valued at $41,000. Finally, Financial Management Professionals Inc. lifted its stake in InMode by 229.2% during the 2nd quarter. Financial Management Professionals Inc. now owns 2,917 shares of the healthcare company’s stock valued at $65,000 after acquiring an additional 2,031 shares in the last quarter. 54.93% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several brokerages have weighed in on INMD. TheStreet cut InMode from a “b-” rating to a “c+” rating in a research note on Tuesday, September 20th. Needham & Company LLC raised their target price on InMode from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Robert W. Baird raised their target price on InMode from $44.00 to $53.00 in a research report on Friday, July 29th. Finally, Jefferies Financial Group initiated coverage on InMode in a research report on Wednesday, October 12th. They set a “buy” rating and a $40.00 target price for the company. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $46.60.
InMode Price Performance
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.
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