Seizert Capital Partners LLC Reduces Holdings in InMode Ltd. (NASDAQ:INMD)

Seizert Capital Partners LLC lessened its stake in shares of InMode Ltd. (NASDAQ:INMD) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 122,144 shares of the healthcare company’s stock after selling 1,219 shares during the quarter. Seizert Capital Partners LLC owned about 0.15% of InMode worth $2,070,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in InMode during the first quarter worth approximately $959,000. Systematic Financial Management LP lifted 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 worth $15,807,000 after acquiring an additional 222,532 shares during the period. ARK Investment Management LLC increased its position in InMode by 35.0% during the second quarter. ARK Investment Management LLC now owns 124,905 shares of the healthcare company’s stock worth $2,278,000 after purchasing an additional 32,369 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of InMode by 129.7% in the 2nd quarter. Hsbc Holdings PLC now owns 90,280 shares of the healthcare company’s stock valued at $1,659,000 after purchasing an additional 50,974 shares during the last quarter. Finally, North Growth Management Ltd. increased its holdings in shares of InMode by 11.9% during the 2nd quarter. North Growth Management Ltd. now owns 593,000 shares of the healthcare company’s stock worth $10,821,000 after buying an additional 63,000 shares during the last quarter. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

InMode Trading Down 5.2 %

INMD stock opened at $18.01 on Friday. InMode Ltd. has a 12-month low of $14.87 and a 12-month high of $26.80. The stock’s 50 day simple moving average is $17.23 and its 200 day simple moving average is $17.45. The firm has a market cap of $1.51 billion, a P/E ratio of 9.74 and a beta of 2.15.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Jefferies Financial Group downgraded InMode from a “buy” rating to a “hold” rating and cut their price objective for the stock from $21.00 to $19.00 in a report on Tuesday, July 23rd. Barclays decreased their price target on shares of InMode from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. BTIG Research started coverage on InMode in a research note on Thursday, October 17th. They set a “buy” rating and a $25.00 target price for the company. Finally, Needham & Company LLC restated 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 assigned a buy rating to the company. According to MarketBeat.com, the stock 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.