Virtus Family Office LLC Lowers Holdings in InMode Ltd. $INMD

Virtus Family Office LLC trimmed its stake in InMode Ltd. (NASDAQ:INMD) by 20.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 206,378 shares of the healthcare company’s stock after selling 51,635 shares during the quarter. InMode accounts for 2.9% of Virtus Family Office LLC’s portfolio, making the stock its 13th biggest holding. Virtus Family Office LLC owned about 0.33% of InMode worth $3,075,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC grew its position in InMode by 13.3% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 26,459 shares of the healthcare company’s stock valued at $394,000 after purchasing an additional 3,113 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of InMode by 355.9% during the third quarter. New York State Common Retirement Fund now owns 85,062 shares of the healthcare company’s stock valued at $1,267,000 after buying an additional 66,402 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in shares of InMode during the third quarter valued at approximately $1,564,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of InMode during the third quarter valued at approximately $69,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in InMode in the 3rd quarter worth approximately $674,000. 68.04% of the stock is owned by hedge funds and other institutional investors.

InMode Trading Up 0.9%

INMD stock traded up $0.13 during midday trading on Friday, reaching $14.95. 29,733 shares of the company’s stock traded hands, compared to its average volume of 1,179,439. InMode Ltd. has a 52-week low of $13.14 and a 52-week high of $19.78. The stock has a market cap of $944.99 million, a P/E ratio of 6.93 and a beta of 2.19. The stock’s 50-day moving average is $14.63 and its 200 day moving average is $14.68.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of InMode in a research note on Thursday, January 22nd. Wall Street Zen downgraded InMode from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. BTIG Research reissued a “neutral” rating on shares of InMode in a research report on Monday, January 26th. Canaccord Genuity Group set a $15.00 target price on shares of InMode and gave the company a “hold” rating in a research note on Wednesday, December 17th. Finally, UBS Group decreased their price objective on shares of InMode from $16.25 to $16.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.60.

InMode Profile

InMode Ltd. (NASDAQ:INMD) is a medical technology company headquartered in Israel that develops, manufactures and markets devices for aesthetic and medical treatments. The company specializes in energy-based technologies, primarily radiofrequency platforms, designed to deliver minimally-invasive and non-invasive procedures.

InMode’s product portfolio encompasses a range of modular systems targeting body contouring, facial rejuvenation, skin tightening and other cosmetic applications. Key offerings include devices built on proprietary radiofrequency and radiofrequency-assisted lipolysis, enabling physicians to perform treatments such as tissue coagulation, skin resurfacing and subdermal volumizing with reduced downtime.

The company distributes its technologies through direct sales operations and distribution partners, serving medical professionals across multiple geographies including North America, Europe, Asia Pacific and Latin America.