CenterBook Partners LP Makes New $1.87 Million Investment in InMode Ltd. $INMD

CenterBook Partners LP bought a new position in shares of InMode Ltd. (NASDAQ:INMD) in the 3rd quarter, Holdings Channel.com reports. The fund bought 131,685 shares of the healthcare company’s stock, valued at approximately $1,866,000.

Several other large investors also recently bought and sold shares of the stock. IFP Advisors Inc purchased a new stake in InMode during the 2nd quarter worth about $31,000. Hsbc Holdings PLC purchased a new position in shares of InMode in the 1st quarter valued at about $163,000. Signaturefd LLC boosted its stake in shares of InMode by 50.0% in the 3rd quarter. Signaturefd LLC now owns 12,014 shares of the healthcare company’s stock valued at $170,000 after buying an additional 4,006 shares during the period. Evergreen Capital Management LLC boosted its stake in shares of InMode by 10.8% in the 3rd quarter. Evergreen Capital Management LLC now owns 15,606 shares of the healthcare company’s stock valued at $221,000 after buying an additional 1,519 shares during the period. Finally, Plan A Wealth LLC grew its position in shares of InMode by 20.3% during the second quarter. Plan A Wealth LLC now owns 17,720 shares of the healthcare company’s stock worth $259,000 after buying an additional 2,991 shares in the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

InMode Stock Performance

Shares of NASDAQ:INMD opened at $13.33 on Monday. InMode Ltd. has a 52 week low of $12.72 and a 52 week high of $16.67. The company’s 50 day moving average is $14.25 and its two-hundred day moving average is $14.32. The company has a market cap of $766.21 million, a PE ratio of 10.84 and a beta of 1.98.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded InMode from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, November 2nd. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, InMode currently has a consensus rating of “Hold” and an average price target of $16.00.

About InMode

InMode Ltd. (NASDAQ: INMD) is a global medical technology company that develops and commercializes energy-based platforms for aesthetic and medical treatments. Its systems are designed to support minimally invasive and noninvasive procedures performed by physicians and other healthcare professionals.

The company’s product portfolio includes platforms and handpieces used in facial and body contouring, skin resurfacing, skin tightening, hair removal, and women’s health applications. Its technologies include radio-frequency and other energy-based treatments, with products such as Morpheus8, BodyTite, FaceTite, Optimas, and EmpowerRF serving a range of clinical and aesthetic needs.

Founded in 2008, InMode sells its products through direct sales and distribution channels to medical practices, clinics, and other healthcare providers.