PNC Financial Services Group Inc. Buys 3,193 Shares of InMode Ltd. (NASDAQ:INMD)

PNC Financial Services Group Inc. boosted its stake in shares of InMode Ltd. (NASDAQ:INMD) by 17.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,208 shares of the healthcare company’s stock after acquiring an additional 3,193 shares during the period. PNC Financial Services Group Inc.’s holdings in InMode were worth $354,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Seizert Capital Partners LLC increased its position 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 purchasing an additional 128,483 shares during the period. Systematic Financial Management LP increased its holdings in InMode by 13.3% in the 3rd quarter. Systematic Financial Management LP now owns 982,111 shares of the healthcare company’s stock valued at $16,647,000 after buying an additional 115,492 shares during the period. Barclays PLC raised its position in shares of InMode by 113.5% in the 3rd quarter. Barclays PLC now owns 169,630 shares of the healthcare company’s stock valued at $2,876,000 after buying an additional 90,173 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of InMode by 12.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 720,750 shares of the healthcare company’s stock worth $12,217,000 after acquiring an additional 82,100 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of InMode during the 4th quarter worth approximately $1,332,000. 68.04% of the stock is owned by institutional investors and hedge funds.

InMode Stock Performance

NASDAQ INMD opened at $18.43 on Friday. The firm’s fifty day moving average price is $18.07 and its two-hundred day moving average price is $17.66. The stock has a market cap of $1.28 billion, a PE ratio of 7.84 and a beta of 2.08. InMode Ltd. has a fifty-two week low of $14.87 and a fifty-two week high of $21.92.

Analysts Set New Price Targets

Several brokerages have commented on INMD. Needham & Company LLC restated a “hold” rating on shares of InMode in a research report on Tuesday, February 4th. Barclays boosted their price target on InMode from $26.00 to $29.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.25.

InMode 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.