ARGA Investment Management LP Has $2.14 Million Holdings in InMode Ltd. $INMD

ARGA Investment Management LP boosted its holdings in shares of InMode Ltd. (NASDAQ:INMD) by 355.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 143,658 shares of the healthcare company’s stock after acquiring an additional 112,087 shares during the quarter. ARGA Investment Management LP owned 0.23% of InMode worth $2,141,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Parallel Advisors LLC raised its holdings in InMode by 63.1% in the 2nd quarter. Parallel Advisors LLC now owns 1,973 shares of the healthcare company’s stock worth $28,000 after acquiring an additional 763 shares during the period. Blue Trust Inc. boosted its position in shares of InMode by 93.7% during the 3rd quarter. Blue Trust Inc. now owns 2,861 shares of the healthcare company’s stock valued at $43,000 after acquiring an additional 1,384 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of InMode in the 3rd quarter valued at approximately $52,000. Farther Finance Advisors LLC grew its position in InMode by 302.3% in the second quarter. Farther Finance Advisors LLC now owns 8,110 shares of the healthcare company’s stock valued at $117,000 after acquiring an additional 6,094 shares during the period. Finally, Ritholtz Wealth Management acquired a new stake in shares of InMode during the 2nd quarter worth about $151,000. 68.04% of the stock is currently owned by hedge funds and other institutional investors.

InMode Stock Down 0.9%

Shares of NASDAQ INMD opened at $13.95 on Friday. InMode Ltd. has a twelve month low of $13.14 and a twelve month high of $19.78. The business’s 50 day moving average price is $14.35 and its two-hundred day moving average price is $14.62. The company has a market cap of $881.78 million, a PE ratio of 6.46 and a beta of 2.13.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wall Street Zen cut shares of InMode from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of InMode in a research note on Wednesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a report on Friday, October 10th. UBS Group reduced their price target on shares of InMode from $16.25 to $16.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Finally, Canaccord Genuity Group set a $15.00 price objective on shares of InMode and gave the company a “hold” rating in a research report on Wednesday, December 17th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $16.60.

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.