PDT Partners LLC Decreases Position in InMode Ltd. (NASDAQ:INMD)

PDT Partners LLC decreased its position in InMode Ltd. (NASDAQ:INMD) by 8.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 39,350 shares of the healthcare company’s stock after selling 3,574 shares during the period. PDT Partners LLC’s holdings in InMode were worth $667,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC grew its stake in InMode by 11.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,068,396 shares of the healthcare company’s stock valued at $37,728,000 after acquiring an additional 214,200 shares during the last quarter. Doma Perpetual Capital Management LLC increased its stake 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 worth $36,685,000 after purchasing an additional 1,363,841 shares in the last quarter. DDD Partners LLC raised its position 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 during the last quarter. Federated Hermes Inc. raised its position in shares of InMode by 191.9% during the 2nd 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 last quarter. Finally, Acadian Asset Management LLC lifted its stake in InMode by 63.6% in the 2nd quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company’s stock valued at $20,502,000 after buying an additional 437,122 shares in the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Stock Down 0.5 %

INMD stock opened at $19.44 on Tuesday. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 10.51 and a beta of 2.15. InMode Ltd. has a 52-week low of $14.87 and a 52-week high of $26.80. The stock’s fifty day simple moving average is $17.67 and its 200-day simple moving average is $17.50.

Analyst Ratings Changes

A number of research firms have recently weighed in on INMD. Barclays cut their price target on InMode from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, October 14th. BTIG Research assumed coverage on InMode in a research report on Thursday, October 17th. They set a “buy” rating and a $25.00 price objective for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of InMode in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.