State of New Jersey Common Pension Fund D Purchases New Position in InMode Ltd. $INMD

State of New Jersey Common Pension Fund D purchased a new stake in InMode Ltd. (NASDAQ:INMD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 13,499 shares of the healthcare company’s stock, valued at approximately $195,000.

A number of other large investors also recently modified their holdings of the stock. ARGA Investment Management LP bought a new position in shares of InMode in the second quarter valued at approximately $456,000. Denali Advisors LLC lifted its position in shares of InMode by 10.5% during the second quarter. Denali Advisors LLC now owns 34,851 shares of the healthcare company’s stock valued at $503,000 after purchasing an additional 3,300 shares in the last quarter. Easterly Investment Partners LLC bought a new position in shares of InMode during the second quarter valued at about $902,000. Ritholtz Wealth Management bought a new position in shares of InMode during the second quarter valued at about $151,000. Finally, Inspire Investing LLC bought a new position in shares of InMode during the second quarter valued at about $185,000. Institutional investors own 68.04% of the company’s stock.

InMode Stock Performance

NASDAQ:INMD opened at $14.77 on Monday. The business’s fifty day moving average is $15.10 and its 200 day moving average is $14.67. InMode Ltd. has a 52-week low of $13.14 and a 52-week high of $19.85. The firm has a market cap of $933.61 million, a price-to-earnings ratio of 5.98 and a beta of 2.11.

Analysts Set New Price Targets

Several equities analysts have commented on INMD shares. Canaccord Genuity Group lifted their target price on shares of InMode from $14.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Weiss Ratings reiterated a “sell (d+)” rating on shares of InMode in a report on Wednesday, October 8th. Zacks Research upgraded InMode from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Wall Street Zen upgraded InMode from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research note on Friday, October 10th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.85.

InMode Company 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.