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

Mitsubishi UFJ Asset Management Co. Ltd. reduced its stake in InMode Ltd. (NASDAQ:INMD) by 8.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 247,826 shares of the healthcare company’s stock after selling 21,924 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.36% of InMode worth $4,216,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC acquired a new position in InMode in the fourth quarter valued at about $1,274,000. Fox Run Management L.L.C. acquired a new stake in shares of InMode during the 4th quarter worth approximately $660,000. KLP Kapitalforvaltning AS acquired a new position in InMode during the fourth quarter valued at approximately $745,000. American Century Companies Inc. bought a new stake in InMode during the fourth quarter worth $299,000. Finally, Teacher Retirement System of Texas bought a new position in shares of InMode in the 4th quarter valued at $306,000. Institutional investors own 68.04% of the company’s stock.

InMode Stock Performance

Shares of NASDAQ:INMD opened at $18.10 on Wednesday. The firm has a market cap of $1.26 billion, a PE ratio of 7.70 and a beta of 2.08. InMode Ltd. has a 52 week low of $14.87 and a 52 week high of $20.98. The firm’s fifty day moving average is $18.36 and its 200-day moving average is $17.80.

Analyst Ratings Changes

Several research firms recently weighed in on INMD. Barclays raised their price objective on InMode from $26.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Needham & Company LLC restated 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 assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.