Police & Firemen s Retirement System of New Jersey Sells 15,926 Shares of InMode Ltd. $INMD

Police & Firemen s Retirement System of New Jersey decreased its position in shares of InMode Ltd. (NASDAQ:INMD) by 52.8% in the second quarter, HoldingsChannel reports. The firm owned 14,257 shares of the healthcare company’s stock after selling 15,926 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in InMode were worth $206,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Focus Partners Wealth boosted its position in shares of InMode by 31.8% during the 1st quarter. Focus Partners Wealth now owns 227,959 shares of the healthcare company’s stock valued at $4,044,000 after acquiring an additional 54,948 shares during the last quarter. Acadian Asset Management LLC increased its position in InMode by 6.6% in the first quarter. Acadian Asset Management LLC now owns 556,413 shares of the healthcare company’s stock worth $9,858,000 after purchasing an additional 34,623 shares during the last quarter. Lind Value II ApS purchased a new stake in InMode during the second quarter valued at $3,930,000. Envestnet Asset Management Inc. lifted its position in InMode by 124.3% during the second quarter. Envestnet Asset Management Inc. now owns 43,008 shares of the healthcare company’s stock valued at $621,000 after purchasing an additional 23,837 shares during the last quarter. Finally, Fred Alger Management LLC lifted its position in InMode by 75.7% during the first quarter. Fred Alger Management LLC now owns 543,750 shares of the healthcare company’s stock valued at $9,646,000 after purchasing an additional 234,285 shares during the last quarter. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. UBS Group reduced their target price on shares of InMode from $16.25 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Zacks Research upgraded InMode from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Wall Street Zen cut InMode from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Needham & Company LLC restated a “hold” rating on shares of InMode in a report on Friday, October 10th. Finally, Canaccord Genuity Group lifted their price objective on shares of InMode from $14.00 to $16.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.80.

InMode Stock Performance

Shares of NASDAQ INMD opened at $14.17 on Friday. InMode Ltd. has a fifty-two week low of $13.14 and a fifty-two week high of $19.78. The company has a market cap of $895.62 million, a price-to-earnings ratio of 6.56 and a beta of 2.11. The business’s 50 day moving average price is $14.84 and its 200-day moving average price is $14.59.

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.