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Should You Hold InMode Ltd. (INMD)?

Soumya Eswaran
·2-min read

Investment management company Ave Maria recently released its “Ave Maria World Equity Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 13.99% compared to the MSCI All Country World Index’s 11.03% return. The fund returned 24.96% for the full year compared to the 22.20% return for the index. You can check the top 5 holdings of the fund to know its best picks in 2023.

Ave Maria World Equity Fund featured stocks like InMode Ltd. (NASDAQ:INMD) in the Q4 2023 investor letter. Headquartered in Yokneam, Israel, InMode Ltd. (NASDAQ:INMD) develops, manufactures, and markets minimally invasive aesthetic medical products. On March 11, 2024, InMode Ltd. (NASDAQ:INMD) stock closed at $21.54 per share. One-month return of InMode Ltd. (NASDAQ:INMD) was -9.00%, and its shares lost 32.22% of their value over the last 52 weeks. InMode Ltd. (NASDAQ:INMD) has a market capitalization of $1.815 billion.

Ave Maria World Equity Fund stated the following regarding InMode Ltd. (NASDAQ:INMD) in its fourth quarter 2023 investor letter:

"InMode Ltd. (NASDAQ:INMD) is a leader in the growing aesthetics market with best-in-class technologies (RF) in minimally and non-invasive body shaping, fat reduction, and skin tightening. RF solutions have significant outcome, recovery and safety advantages versus traditional surgery and other non-invasive approaches. The company is in the process of expanding its end markets into Wellness and has several products, which are used by OB/GYN’s, ENT’s and Ophthalmologists."

A medical professional wearing gloves and a protective mask performing a minimally invasive aesthetic medical procedures on a patient.

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InMode Ltd. (NASDAQ:INMD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, InMode Ltd. (NASDAQ:INMD) was held by 24 hedge fund portfolios, compared to 24 in the previous quarter, according to our database.

We discussed InMode Ltd. (NASDAQ:INMD) in another article and shared the list of stocks Cathie Wood was buying for 2024. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.