PDT Partners LLC Lowers Stake in InMode Ltd. (NASDAQ:INMD)

PDT Partners LLC cut its holdings in InMode Ltd. (NASDAQ:INMD) by 8.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,350 shares of the healthcare company’s stock after selling 3,574 shares during the quarter. PDT Partners LLC’s holdings in InMode were worth $667,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in INMD. Asset Dedication LLC acquired a new position in InMode in the 2nd quarter valued at about $33,000. nVerses Capital LLC acquired a new position in shares of InMode in the second quarter valued at approximately $42,000. Nisa Investment Advisors LLC increased its holdings in shares of InMode by 314.7% in the third 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 period. National Bank of Canada FI raised its stake in shares of InMode by 40.7% during the second quarter. National Bank of Canada FI now owns 9,406 shares of the healthcare company’s stock worth $168,000 after purchasing an additional 2,720 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of InMode during the first quarter worth $171,000. 68.04% of the stock is owned by hedge funds and other institutional investors.

InMode Stock Down 0.5 %

Shares of INMD opened at $19.44 on Tuesday. InMode Ltd. has a 52-week low of $14.87 and a 52-week high of $26.80. The company has a 50-day simple moving average of $17.67 and a 200-day simple moving average of $17.50. The company has a market capitalization of $1.63 billion, a PE ratio of 10.51 and a beta of 2.15.

Analyst Upgrades and Downgrades

INMD has been the topic of several recent research reports. BTIG Research started coverage on shares of InMode in a research note on Thursday, October 17th. They issued a “buy” rating and a $25.00 price objective on the stock. Barclays dropped their price target on shares of InMode from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Finally, Needham & Company LLC restated a “hold” rating on shares of InMode in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.60.

About InMode

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.