SG Americas Securities LLC Cuts Stake in InMode Ltd. (NASDAQ:INMD)

SG Americas Securities LLC reduced its stake in shares of InMode Ltd. (NASDAQ:INMD) by 39.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,541 shares of the healthcare company’s stock after selling 29,070 shares during the quarter. SG Americas Securities LLC owned about 0.05% of InMode worth $744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in INMD. State Street Corp grew its holdings in shares of InMode by 3.7% in the third quarter. State Street Corp now owns 2,044,640 shares of the healthcare company’s stock valued at $34,657,000 after purchasing an additional 73,183 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of InMode by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,101,951 shares of the healthcare company’s stock valued at $18,678,000 after purchasing an additional 6,282 shares in the last quarter. Systematic Financial Management LP grew its holdings in shares of InMode by 13.3% in the third quarter. Systematic Financial Management LP now owns 982,111 shares of the healthcare company’s stock valued at $16,647,000 after purchasing an additional 115,492 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in shares of InMode by 0.4% in the third quarter. Disciplined Growth Investors Inc. MN now owns 808,149 shares of the healthcare company’s stock valued at $13,698,000 after purchasing an additional 3,191 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in InMode by 12.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 720,750 shares of the healthcare company’s stock worth $12,217,000 after buying an additional 82,100 shares during the period. 68.04% of the stock is owned by hedge funds and other institutional investors.

InMode Stock Up 1.1 %

Shares of NASDAQ INMD opened at $17.41 on Thursday. The business’s 50 day moving average price is $17.61 and its 200 day moving average price is $17.23. The firm has a market cap of $1.46 billion, a P/E ratio of 9.41 and a beta of 2.12. InMode Ltd. has a 52 week low of $14.87 and a 52 week high of $26.80.

Wall Street Analysts Forecast Growth

Several research firms have commented on INMD. Barclays dropped their price objective on shares of InMode from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, January 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a research note on Thursday, October 31st. Finally, BTIG Research began coverage on shares of InMode in a research note on Thursday, October 17th. They set a “buy” rating and a $25.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, InMode has an average rating of “Hold” and a consensus target price of $22.40.

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.