Investors Purchase High Volume of Call Options on InMode (NASDAQ:INMD)

InMode Ltd. (NASDAQ:INMD) saw unusually large options trading on Tuesday. Stock investors acquired 6,175 call options on the stock. This is an increase of 445% compared to the typical daily volume of 1,134 call options.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Orion Capital Management LLC bought a new stake in InMode in the 4th quarter worth approximately $65,000. SBI Securities Co. Ltd. bought a new stake in shares of InMode in the fourth quarter worth $87,000. Farther Finance Advisors LLC increased its position in InMode by 26.2% during the fourth quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company’s stock valued at $93,000 after acquiring an additional 1,154 shares during the last quarter. Covestor Ltd lifted its holdings in InMode by 13.9% in the fourth quarter. Covestor Ltd now owns 5,936 shares of the healthcare company’s stock valued at $99,000 after acquiring an additional 723 shares during the period. Finally, Lazard Asset Management LLC boosted its position in InMode by 6,128.7% in the fourth quarter. Lazard Asset Management LLC now owns 6,291 shares of the healthcare company’s stock worth $105,000 after purchasing an additional 6,190 shares during the last quarter. 68.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INMD has been the subject of several recent research reports. Barclays raised their price objective on InMode from $26.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Robert W. Baird cut shares of InMode from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $22.00 to $16.00 in a research report on Monday. Canaccord Genuity Group cut their price objective on shares of InMode from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a report on Monday. Finally, UBS Group cut their price target on InMode from $19.00 to $16.25 and set a “neutral” rating on the stock in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, InMode currently has an average rating of “Hold” and a consensus price target of $19.38.

InMode Stock Performance

NASDAQ INMD opened at $14.42 on Wednesday. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 6.14 and a beta of 1.96. The stock has a 50-day moving average of $17.16 and a 200 day moving average of $17.61. InMode has a one year low of $13.68 and a one year high of $19.85.

About InMode

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.