InMode Ltd. (NASDAQ:INMD) Shares Sold by Morse Asset Management Inc

Morse Asset Management Inc reduced its stake in InMode Ltd. (NASDAQ:INMD - Free Report) by 92.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,205 shares of the healthcare company's stock after selling 26,087 shares during the period. Morse Asset Management Inc's holdings in InMode were worth $37,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INMD. Hotchkis & Wiley Capital Management LLC increased its position in shares of 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 purchasing an additional 82,100 shares in the last quarter. Holocene Advisors LP purchased a new position in InMode during the 3rd quarter worth approximately $853,000. Wasatch Advisors LP increased its position in InMode by 14.6% during the third quarter. Wasatch Advisors LP now owns 421,635 shares of the healthcare company's stock worth $7,147,000 after buying an additional 53,673 shares during the period. Edgestream Partners L.P. purchased a new stake in InMode in the third quarter valued at approximately $634,000. Finally, Verition Fund Management LLC boosted its holdings in shares of InMode by 18.2% in the third quarter. Verition Fund Management LLC now owns 37,196 shares of the healthcare company's stock valued at $630,000 after acquiring an additional 5,739 shares during the period. Institutional investors and hedge funds own 68.04% of the company's stock.

InMode Price Performance

Shares of INMD stock traded down $1.29 during mid-day trading on Thursday, hitting $18.11. The stock had a trading volume of 942,460 shares, compared to its average volume of 1,322,821. InMode Ltd. has a fifty-two week low of $14.87 and a fifty-two week high of $26.80. The company's 50-day simple moving average is $17.79 and its 200-day simple moving average is $17.52. The firm has a market cap of $1.52 billion, a PE ratio of 9.79 and a beta of 2.07.

Analysts Set New Price Targets

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

InMode Profile

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.