Verition Fund Management LLC Increases Stock Position in InMode Ltd. (NASDAQ:INMD)

Verition Fund Management LLC grew its holdings in InMode Ltd. (NASDAQ:INMD) by 18.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,196 shares of the healthcare company’s stock after purchasing an additional 5,739 shares during the quarter. Verition Fund Management LLC’s holdings in InMode were worth $630,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Martingale Asset Management L P grew its holdings in InMode by 147.2% during the 3rd quarter. Martingale Asset Management L P now owns 62,360 shares of the healthcare company’s stock valued at $1,057,000 after buying an additional 37,135 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of InMode by 54.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,480 shares of the healthcare company’s stock valued at $2,127,000 after acquiring an additional 44,058 shares in the last quarter. Townsquare Capital LLC acquired a new stake in shares of InMode during the third quarter valued at $202,000. Quantbot Technologies LP purchased a new stake in InMode during the 3rd quarter worth about $1,104,000. Finally, D.A. Davidson & CO. raised its stake in InMode by 10.5% in the 3rd quarter. D.A. Davidson & CO. now owns 41,278 shares of the healthcare company’s stock valued at $700,000 after purchasing an additional 3,915 shares during the last quarter. 68.04% of the stock is owned by hedge funds and other institutional investors.

InMode Price Performance

Shares of INMD stock opened at $18.56 on Wednesday. The firm’s 50-day simple moving average is $17.84 and its 200-day simple moving average is $17.50. InMode Ltd. has a 1-year low of $14.87 and a 1-year high of $26.80. The firm has a market cap of $1.56 billion, a P/E ratio of 10.03 and a beta of 2.07.

Wall Street Analyst Weigh In

Several research firms have issued reports on INMD. BTIG Research started coverage on shares of InMode in a research note on Thursday, October 17th. They set a “buy” rating and a $25.00 price target on the stock. Barclays reduced their price objective 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 reaffirmed a “hold” rating on shares of InMode in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, InMode presently has a consensus rating of “Hold” and an average price target of $22.60.

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.