InMode Ltd. (NASDAQ:INMD) Shares Sold by Verition Fund Management LLC

Posted by on Mar 5th, 2023

Verition Fund Management LLC trimmed its position in shares of InMode Ltd. (NASDAQ:INMD – Get Rating) by 28.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,988 shares of the healthcare company’s stock after selling 8,885 shares during the period. Verition Fund Management LLC’s holdings in InMode were worth $640,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. CoreCap Advisors LLC acquired a new stake in InMode during the 2nd quarter valued at $25,000. Brown Brothers Harriman & Co. acquired a new position in InMode during the 1st quarter worth $41,000. Knuff & Co LLC acquired a new position in InMode during the 3rd quarter worth $33,000. Ensign Peak Advisors Inc grew its holdings in InMode by 875.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 1,950 shares of the healthcare company’s stock worth $44,000 after acquiring an additional 1,750 shares in the last quarter. Finally, GHP Investment Advisors Inc. acquired a new position in InMode during the 2nd quarter worth $138,000. 55.24% of the stock is owned by institutional investors and hedge funds.

InMode Stock Performance

InMode stock opened at $35.07 on Friday. The firm’s 50-day moving average is $35.53 and its 200-day moving average is $34.26. InMode Ltd. has a 1 year low of $20.60 and a 1 year high of $42.46. The company has a market cap of $2.91 billion, a P/E ratio of 18.46 and a beta of 2.11.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on INMD. Needham & Company LLC lowered shares of InMode from a “buy” rating to a “hold” rating in a report on Friday, February 17th. Barclays raised their price objective on shares of InMode from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, February 15th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.33.

InMode Company Profile

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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.

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Institutional Ownership by Quarter for InMode (NASDAQ:INMD)

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