Mitsubishi UFJ Asset Management Co. Ltd. Sells 21,924 Shares of InMode Ltd. (NASDAQ:INMD)

Mitsubishi UFJ Asset Management Co. Ltd. lessened its position in shares of InMode Ltd. (NASDAQ:INMD) by 8.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 247,826 shares of the healthcare company’s stock after selling 21,924 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in InMode were worth $4,216,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP boosted its holdings in shares of InMode by 154.3% during the 3rd quarter. Quarry LP now owns 3,781 shares of the healthcare company’s stock worth $64,000 after buying an additional 2,294 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in InMode in the fourth quarter valued at $87,000. Farther Finance Advisors LLC increased its stake in InMode by 26.2% in the fourth quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company’s stock valued at $93,000 after purchasing an additional 1,154 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of InMode by 6.2% during the third quarter. National Bank of Canada FI now owns 9,985 shares of the healthcare company’s stock valued at $169,000 after purchasing an additional 579 shares during the period. Finally, HighTower Advisors LLC acquired a new position in shares of InMode during the fourth quarter valued at about $180,000. Institutional investors and hedge funds own 68.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Barclays increased their target price on InMode from $26.00 to $29.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.25.

InMode Stock Performance

Shares of InMode stock opened at $18.10 on Wednesday. The stock has a market capitalization of $1.26 billion, a P/E ratio of 7.70 and a beta of 2.08. The stock’s 50-day simple moving average is $18.36 and its 200 day simple moving average is $17.80. InMode Ltd. has a 52-week low of $14.87 and a 52-week high of $20.98.

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.