InMode Ltd. (NASDAQ:INMD) Shares Sold by Legal Advantage Investments Inc.

Legal Advantage Investments Inc. trimmed its stake in shares of InMode Ltd. (NASDAQ:INMD) by 9.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,020 shares of the healthcare company’s stock after selling 2,800 shares during the period. Legal Advantage Investments Inc.’s holdings in InMode were worth $468,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of INMD. Doma Perpetual Capital Management LLC increased its position in InMode by 210.7% in the 2nd quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company’s stock worth $36,685,000 after purchasing an additional 1,363,841 shares during the last quarter. Lombard Odier Asset Management Europe Ltd acquired a new position in shares of InMode during the 2nd quarter valued at about $4,104,000. Systematic Financial Management LP increased its holdings in shares of InMode by 34.5% during the 2nd quarter. Systematic Financial Management LP now owns 866,619 shares of the healthcare company’s stock valued at $15,807,000 after acquiring an additional 222,532 shares during the last quarter. Barclays PLC increased its holdings in shares of InMode by 113.5% during the 3rd quarter. Barclays PLC now owns 169,630 shares of the healthcare company’s stock valued at $2,876,000 after acquiring an additional 90,173 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of InMode by 12.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 720,750 shares of the healthcare company’s stock valued at $12,217,000 after acquiring an additional 82,100 shares during the last quarter. 68.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INMD has been the subject of several recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of InMode in a research note on Thursday, October 31st. Barclays decreased their target price on InMode from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, January 9th. Finally, BTIG Research started coverage on InMode in a research report on Thursday, October 17th. They issued a “buy” rating and a $25.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $22.40.

InMode Price Performance

INMD stock opened at $16.79 on Tuesday. The business has a fifty day moving average price of $17.83 and a 200 day moving average price of $17.25. InMode Ltd. has a fifty-two week low of $14.87 and a fifty-two week high of $26.80. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 9.08 and a beta of 2.12.

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.