Meitav Investment House Ltd. Lowers Stock Holdings in InMode Ltd. $INMD

Meitav Investment House Ltd. cut its stake in shares of InMode Ltd. (NASDAQ:INMD) by 26.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 976,886 shares of the healthcare company’s stock after selling 346,319 shares during the quarter. Meitav Investment House Ltd. owned 1.55% of InMode worth $14,520,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its holdings in InMode by 63.1% in the second quarter. Parallel Advisors LLC now owns 1,973 shares of the healthcare company’s stock valued at $28,000 after purchasing an additional 763 shares during the last quarter. Blue Trust Inc. boosted its position in shares of InMode by 93.7% in the 3rd quarter. Blue Trust Inc. now owns 2,861 shares of the healthcare company’s stock worth $43,000 after buying an additional 1,384 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in InMode in the 3rd quarter valued at about $52,000. Farther Finance Advisors LLC increased its holdings in InMode by 302.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,110 shares of the healthcare company’s stock valued at $117,000 after acquiring an additional 6,094 shares in the last quarter. Finally, Ritholtz Wealth Management purchased a new position in InMode during the 2nd quarter valued at about $151,000. Institutional investors and hedge funds own 68.04% of the company’s stock.

Wall Street Analyst Weigh In

INMD has been the topic of several recent research reports. UBS Group reduced their price target on shares of InMode from $16.25 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Zacks Research raised InMode from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Wall Street Zen cut InMode from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Canaccord Genuity Group set a $15.00 price objective on InMode and gave the company a “hold” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of InMode in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.60.

InMode Price Performance

NASDAQ INMD opened at $13.94 on Friday. The company has a market cap of $881.15 million, a P/E ratio of 6.45 and a beta of 2.13. InMode Ltd. has a 12 month low of $13.14 and a 12 month high of $19.78. The company has a 50-day moving average of $14.40 and a 200-day moving average of $14.66.

InMode Company 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.