Invenomic Capital Management LP Has $2.81 Million Stock Holdings in InMode Ltd. (NASDAQ:INMD)

Invenomic Capital Management LP decreased its holdings in InMode Ltd. (NASDAQ:INMD - Free Report) by 15.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 165,502 shares of the healthcare company's stock after selling 31,367 shares during the quarter. Invenomic Capital Management LP owned 0.20% of InMode worth $2,805,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Renaissance Technologies LLC raised its position in shares of InMode by 11.6% in the second quarter. Renaissance Technologies LLC now owns 2,068,396 shares of the healthcare company's stock valued at $37,728,000 after buying an additional 214,200 shares in the last quarter. Doma Perpetual Capital Management LLC lifted its position in shares of InMode by 210.7% during the 2nd quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company's stock valued at $36,685,000 after acquiring an additional 1,363,841 shares during the period. DDD Partners LLC grew its holdings in shares of InMode by 19.4% during the 2nd quarter. DDD Partners LLC now owns 1,266,678 shares of the healthcare company's stock worth $23,104,000 after purchasing an additional 205,947 shares in the last quarter. Federated Hermes Inc. increased its position in shares of InMode by 191.9% in the second quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company's stock worth $20,520,000 after purchasing an additional 739,629 shares during the period. Finally, Acadian Asset Management LLC raised its stake in InMode by 63.6% in the second quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company's stock valued at $20,502,000 after purchasing an additional 437,122 shares in the last quarter. Institutional investors and hedge funds own 68.04% of the company's stock.

InMode Price Performance

INMD stock traded up $0.24 during trading on Wednesday, reaching $19.36. 547,006 shares of the company were exchanged, compared to its average volume of 1,321,683. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 10.34 and a beta of 2.07. The company has a 50-day moving average of $17.71 and a two-hundred day moving average of $17.50. InMode Ltd. has a twelve month low of $14.87 and a twelve month high of $26.80.

Analyst Upgrades and Downgrades

INMD has been the topic of several recent analyst reports. BTIG Research started coverage on shares of InMode in a report on Thursday, October 17th. They issued a "buy" rating and a $25.00 target price on the stock. Needham & Company LLC reissued a "hold" rating on shares of InMode in a research note on Thursday, October 31st. Finally, Barclays cut their target price on InMode from $29.00 to $27.00 and set an "overweight" rating for the company in a research note on Monday, October 14th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $22.60.

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.