Victory Capital Management Inc. Purchases 98,378 Shares of InMode Ltd. (NASDAQ:INMD)

Victory Capital Management Inc. lifted its position in InMode Ltd. (NASDAQ:INMD – Get Rating) by 15.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 737,991 shares of the healthcare company’s stock after acquiring an additional 98,378 shares during the quarter. Victory Capital Management Inc. owned 0.89% of InMode worth $26,346,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Knuff & Co LLC bought a new position in InMode in the third quarter worth about $33,000. Parallel Advisors LLC raised its holdings in InMode by 9,263.6% in the fourth quarter. Parallel Advisors LLC now owns 1,030 shares of the healthcare company’s stock worth $37,000 after purchasing an additional 1,019 shares in the last quarter. Belpointe Asset Management LLC bought a new position in InMode in the fourth quarter worth about $37,000. Brown Brothers Harriman & Co. bought a new position in InMode in the first quarter worth about $41,000. Finally, Toth Financial Advisory Corp raised its holdings in InMode by 80.0% in the fourth quarter. Toth Financial Advisory Corp now owns 1,350 shares of the healthcare company’s stock worth $48,000 after purchasing an additional 600 shares in the last quarter. 55.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on INMD. Needham & Company LLC downgraded shares of InMode from a “buy” rating to a “hold” rating in a report on Friday, February 17th. TheStreet upgraded InMode from a “c+” rating to a “b-” rating in a research note on Wednesday, April 19th. Barclays boosted their price target on InMode from $45.00 to $47.00 in a research note on Thursday, May 4th. Finally, UBS Group assumed coverage on InMode in a research note on Tuesday, March 28th. They set a “buy” rating and a $40.00 price target on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, InMode has a consensus rating of “Moderate Buy” and a consensus price target of $45.71.

InMode Price Performance

NASDAQ:INMD opened at $33.35 on Friday. The firm has a market capitalization of $2.77 billion, a P/E ratio of 16.59 and a beta of 2.07. InMode Ltd. has a 1-year low of $21.20 and a 1-year high of $41.84. The company’s fifty day moving average price is $33.71 and its 200-day moving average price is $34.90.

InMode Profile

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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.