Virtus Family Office LLC Sells 51,635 Shares of InMode Ltd. $INMD

Virtus Family Office LLC cut its stake in shares of InMode Ltd. (NASDAQ:INMD) by 20.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 206,378 shares of the healthcare company’s stock after selling 51,635 shares during the quarter. InMode makes up approximately 2.9% of Virtus Family Office LLC’s holdings, making the stock its 13th biggest position. Virtus Family Office LLC’s holdings in InMode were worth $3,075,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INMD. Blue Trust Inc. increased its stake in shares of InMode by 93.7% in the third quarter. Blue Trust Inc. now owns 2,861 shares of the healthcare company’s stock worth $43,000 after purchasing an additional 1,384 shares in the last quarter. State of Alaska Department of Revenue bought a new position in InMode in the 3rd quarter worth $52,000. Pilgrim Partners Asia Pte Ltd bought a new position in InMode in the 3rd quarter worth $69,000. Ritholtz Wealth Management purchased a new position in shares of InMode in the second quarter valued at about $151,000. Finally, Topline Capital Management LLC bought a new position in shares of InMode in the second quarter worth about $160,000. Institutional investors own 68.04% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on INMD. BTIG Research reissued a “neutral” rating on shares of InMode in a research note on Monday, January 26th. Canaccord Genuity Group set a $15.00 price objective on shares of InMode and gave the company a “hold” rating in a report on Wednesday, December 17th. Weiss Ratings reissued a “sell (d+)” rating on shares of InMode in a report on Thursday, January 22nd. Needham & Company LLC restated a “hold” rating on shares of InMode in a report on Friday, October 10th. Finally, UBS Group reduced their price objective on InMode from $16.25 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, InMode currently has a consensus rating of “Hold” and an average price target of $16.60.

InMode Trading Up 0.9%

Shares of INMD traded up $0.13 during trading hours on Friday, reaching $14.95. 29,733 shares of the company traded hands, compared to its average volume of 1,179,439. The stock’s fifty day moving average price is $14.63 and its 200 day moving average price is $14.68. The firm has a market cap of $944.99 million, a price-to-earnings ratio of 6.93 and a beta of 2.19. InMode Ltd. has a 12-month low of $13.14 and a 12-month high of $19.78.

InMode Profile

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.