EMC Capital Management Lowers Stock Position in InMode Ltd. (NASDAQ:INMD)

EMC Capital Management trimmed its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 68.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,170 shares of the healthcare company’s stock after selling 9,149 shares during the period. EMC Capital Management’s holdings in InMode were worth $70,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of INMD. Systematic Financial Management LP increased its position 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 purchasing an additional 115,492 shares in the last quarter. Barclays PLC lifted its holdings in shares of InMode by 113.5% during the 3rd quarter. Barclays PLC now owns 169,630 shares of the healthcare company’s stock worth $2,876,000 after acquiring an additional 90,173 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in shares of InMode by 12.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 720,750 shares of the healthcare company’s stock worth $12,217,000 after acquiring an additional 82,100 shares during the last quarter. State Street Corp raised its stake in InMode by 3.7% during the third quarter. State Street Corp now owns 2,044,640 shares of the healthcare company’s stock worth $34,657,000 after purchasing an additional 73,183 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of InMode in the 3rd quarter valued at $1,104,000. 68.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. BTIG Research started coverage on InMode in a report on Thursday, October 17th. They issued a “buy” rating and a $25.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research note on Thursday, October 31st. Finally, Barclays cut their price objective on InMode from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, January 9th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $22.40.

InMode Stock Performance

NASDAQ:INMD opened at $17.21 on Friday. The stock has a 50-day simple moving average of $17.57 and a 200 day simple moving average of $17.23. InMode Ltd. has a one year low of $14.87 and a one year high of $26.80. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 9.30 and a beta of 2.12.

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.