The Manufacturers Life Insurance Company Reduces Stake in InMode Ltd. (NASDAQ:INMD)

The Manufacturers Life Insurance Company lowered its stake in shares of InMode Ltd. (NASDAQ:INMD) by 95.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,646 shares of the healthcare company’s stock after selling 561,966 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in InMode were worth $469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the business. Doma Perpetual Capital Management LLC boosted its position in shares of InMode by 210.7% during the second quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company’s stock worth $36,685,000 after buying an additional 1,363,841 shares during the period. Federated Hermes Inc. raised its holdings in InMode by 191.9% during the second quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock worth $20,520,000 after purchasing an additional 739,629 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of InMode by 63.6% during the 2nd quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company’s stock worth $20,502,000 after purchasing an additional 437,122 shares during the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new position in shares of InMode during the 2nd quarter worth about $4,104,000. Finally, Systematic Financial Management LP raised its holdings in shares of InMode by 34.5% in the 2nd quarter. Systematic Financial Management LP now owns 866,619 shares of the healthcare company’s stock worth $15,807,000 after purchasing an additional 222,532 shares during the period. 68.04% of the stock is owned by institutional investors and hedge funds.

InMode Price Performance

NASDAQ INMD opened at $18.26 on Monday. The company has a market capitalization of $1.53 billion, a PE ratio of 9.87 and a beta of 2.07. The company has a fifty day moving average of $18.08 and a 200 day moving average of $17.49. InMode Ltd. has a 1 year low of $14.87 and a 1 year high of $26.80.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. BTIG Research assumed coverage on shares of InMode in a research report on Thursday, October 17th. They issued a “buy” rating and a $25.00 price target on the stock. Needham & Company LLC restated a “hold” rating on shares of InMode in a research note on Thursday, October 31st. Finally, Barclays lowered their target price on shares of InMode from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Four 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 stock presently has an average rating of “Hold” and an average price target of $22.60.

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.