Franklin Resources Inc. Acquires 768 Shares of InMode Ltd. (NASDAQ:INMD)

Franklin Resources Inc. raised its stake in shares of InMode Ltd. (NASDAQ:INMD) by 4.6% in the 3rd quarter, Holdings Channel reports. The firm owned 17,559 shares of the healthcare company’s stock after purchasing an additional 768 shares during the quarter. Franklin Resources Inc.’s holdings in InMode were worth $292,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Systematic Financial Management LP grew its holdings in InMode by 13.3% during the 3rd quarter. Systematic Financial Management LP now owns 982,111 shares of the healthcare company’s stock worth $16,647,000 after acquiring an additional 115,492 shares during the period. Barclays PLC grew its stake in InMode by 113.5% during the third quarter. Barclays PLC now owns 169,630 shares of the healthcare company’s stock worth $2,876,000 after purchasing an additional 90,173 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in InMode by 54.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,480 shares of the healthcare company’s stock worth $2,127,000 after purchasing an additional 44,058 shares in the last quarter. Hsbc Holdings PLC lifted its stake in InMode by 129.7% in the second quarter. Hsbc Holdings PLC now owns 90,280 shares of the healthcare company’s stock valued at $1,659,000 after buying an additional 50,974 shares during the period. Finally, State Street Corp boosted its holdings in shares of InMode by 3.7% during the 3rd quarter. State Street Corp now owns 2,044,640 shares of the healthcare company’s stock worth $34,657,000 after buying an additional 73,183 shares in the last quarter. 68.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

INMD has been the topic of several research analyst reports. Barclays cut their target price on shares of InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research report on Thursday, October 31st. Finally, BTIG Research began coverage on InMode in a research report on Thursday, October 17th. They issued a “buy” rating and a $25.00 target price for the company. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.60.

InMode Price Performance

INMD stock opened at $16.70 on Thursday. The firm has a 50 day simple moving average of $18.20 and a two-hundred day simple moving average of $17.36. The stock has a market cap of $1.40 billion, a PE ratio of 9.03 and a beta of 2.07. InMode Ltd. has a one year low of $14.87 and a one year high of $26.80.

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.