Y Intercept Hong Kong Ltd Invests $674,000 in InMode Ltd. $INMD

Y Intercept Hong Kong Ltd bought a new stake in InMode Ltd. (NASDAQ:INMD) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 45,204 shares of the healthcare company’s stock, valued at approximately $674,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ARGA Investment Management LP boosted its stake in InMode by 355.0% during the third quarter. ARGA Investment Management LP now owns 143,658 shares of the healthcare company’s stock worth $2,141,000 after acquiring an additional 112,087 shares in the last quarter. Divisadero Street Capital Management LP purchased a new position in shares of InMode during the second quarter valued at approximately $1,397,000. OMERS ADMINISTRATION Corp boosted its position in shares of InMode by 55.3% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 200,043 shares of the healthcare company’s stock worth $2,889,000 after purchasing an additional 71,231 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of InMode by 92.9% in the 2nd quarter. Squarepoint Ops LLC now owns 143,758 shares of the healthcare company’s stock worth $2,076,000 after purchasing an additional 69,239 shares in the last quarter. Finally, Lind Value II ApS purchased a new stake in shares of InMode in the 2nd quarter worth approximately $3,930,000. 68.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Canaccord Genuity Group set a $15.00 price objective on InMode and gave the company a “hold” rating in a research note on Wednesday, December 17th. BTIG Research restated a “neutral” rating on shares of InMode in a report on Monday, January 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of InMode in a research report on Thursday, January 22nd. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research report on Friday, October 10th. Finally, Wall Street Zen cut shares of InMode from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $16.60.

InMode Price Performance

Shares of NASDAQ:INMD opened at $16.62 on Tuesday. InMode Ltd. has a 1 year low of $13.14 and a 1 year high of $19.78. The company has a market cap of $1.05 billion, a P/E ratio of 7.69 and a beta of 2.19. The stock’s fifty day moving average price is $14.56 and its 200-day moving average price is $14.66.

About InMode

InMode Ltd. (NASDAQ:INMD) is a medical technology company headquartered in Israel that develops, manufactures and markets devices for aesthetic and medical treatments. The company specializes in energy-based technologies, primarily radiofrequency platforms, designed to deliver minimally-invasive and non-invasive procedures.

InMode’s product portfolio encompasses a range of modular systems targeting body contouring, facial rejuvenation, skin tightening and other cosmetic applications. Key offerings include devices built on proprietary radiofrequency and radiofrequency-assisted lipolysis, enabling physicians to perform treatments such as tissue coagulation, skin resurfacing and subdermal volumizing with reduced downtime.

The company distributes its technologies through direct sales operations and distribution partners, serving medical professionals across multiple geographies including North America, Europe, Asia Pacific and Latin America.