Divisadero Street Capital Management LP Makes New $1.40 Million Investment in InMode Ltd. $INMD

Divisadero Street Capital Management LP bought a new position in shares of InMode Ltd. (NASDAQ:INMD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 96,754 shares of the healthcare company’s stock, valued at approximately $1,397,000. Divisadero Street Capital Management LP owned approximately 0.15% of InMode as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its holdings in InMode by 63.1% in the second quarter. Parallel Advisors LLC now owns 1,973 shares of the healthcare company’s stock valued at $28,000 after purchasing an additional 763 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of InMode during the 1st quarter worth approximately $70,000. Farther Finance Advisors LLC boosted its holdings in shares of InMode by 302.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 8,110 shares of the healthcare company’s stock valued at $117,000 after buying an additional 6,094 shares in the last quarter. Ritholtz Wealth Management purchased a new position in shares of InMode in the 2nd quarter valued at $151,000. Finally, XTX Topco Ltd purchased a new position in shares of InMode in the 1st quarter valued at $182,000. Hedge funds and other institutional investors own 68.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on INMD. Wall Street Zen downgraded shares of InMode from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. UBS Group reduced their target price on InMode from $16.25 to $16.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Zacks Research upgraded InMode from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of InMode in a research report on Wednesday, October 8th. Finally, Canaccord Genuity Group boosted their price objective on InMode from $14.00 to $16.00 and gave the company a “hold” rating in a research note on Friday, October 10th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $16.80.

InMode Stock Performance

Shares of INMD opened at $14.42 on Monday. InMode Ltd. has a fifty-two week low of $13.14 and a fifty-two week high of $19.78. The firm has a 50-day simple moving average of $14.79 and a 200-day simple moving average of $14.58. The company has a market capitalization of $911.49 million, a price-to-earnings ratio of 6.68 and a beta of 2.14.

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.