Covestor Ltd Sells 3,264 Shares of InMode Ltd. (NASDAQ:INMD)

Covestor Ltd decreased its position in InMode Ltd. (NASDAQ:INMD) by 38.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,213 shares of the healthcare company’s stock after selling 3,264 shares during the period. Covestor Ltd’s holdings in InMode were worth $88,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Asset Dedication LLC bought a new stake in InMode in the 2nd quarter worth $33,000. Headlands Technologies LLC grew its stake in shares of InMode by 118.2% in the first quarter. Headlands Technologies LLC now owns 1,916 shares of the healthcare company’s stock worth $41,000 after purchasing an additional 1,038 shares during the last quarter. nVerses Capital LLC purchased a new position in InMode during the 2nd quarter valued at about $42,000. Nisa Investment Advisors LLC raised its position in InMode by 314.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,550 shares of the healthcare company’s stock valued at $60,000 after purchasing an additional 2,694 shares during the last quarter. Finally, EMC Capital Management bought a new position in InMode during the 1st quarter valued at approximately $90,000. 68.04% of the stock is owned by hedge funds and other institutional investors.

InMode Stock Up 0.3 %

Shares of INMD stock opened at $19.32 on Thursday. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 10.44 and a beta of 2.15. The business’s fifty day moving average is $17.04 and its 200 day moving average is $17.42. InMode Ltd. has a twelve month low of $14.87 and a twelve month high of $26.80.

Analyst Ratings Changes

Several research firms have recently issued reports on INMD. Jefferies Financial Group cut InMode from a “buy” rating to a “hold” rating and reduced their target price for the company from $21.00 to $19.00 in a research note on Tuesday, July 23rd. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research report on Thursday, October 31st. Barclays dropped their target price on shares of InMode from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Finally, BTIG Research assumed coverage on shares of InMode in a research report on Thursday, October 17th. They set a “buy” rating and a $25.00 price target on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.60.

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.