Federated Hermes Inc. Sells 144,233 Shares of InMode Ltd. $INMD

Federated Hermes Inc. lessened its position in InMode Ltd. (NASDAQ:INMD) by 94.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,000 shares of the healthcare company’s stock after selling 144,233 shares during the period. Federated Hermes Inc.’s holdings in InMode were worth $119,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in shares of InMode by 234.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,123,756 shares of the healthcare company’s stock valued at $19,935,000 after buying an additional 788,157 shares during the period. Systematic Financial Management LP increased its position in InMode by 3.9% in the 2nd quarter. Systematic Financial Management LP now owns 1,090,971 shares of the healthcare company’s stock valued at $15,754,000 after acquiring an additional 41,363 shares during the period. Bank of America Corp DE raised its stake in shares of InMode by 142.1% during the second quarter. Bank of America Corp DE now owns 862,209 shares of the healthcare company’s stock valued at $12,450,000 after acquiring an additional 506,134 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of InMode during the second quarter worth $8,294,000. Finally, Marshall Wace LLP grew its stake in shares of InMode by 270.7% in the second quarter. Marshall Wace LLP now owns 555,573 shares of the healthcare company’s stock worth $8,022,000 after purchasing an additional 405,707 shares during the last quarter. 68.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INMD has been the topic of several recent research reports. Wall Street Zen downgraded InMode from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Canaccord Genuity Group set a $15.00 price target on shares of InMode and gave the stock a “hold” rating in a report on Wednesday, December 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of InMode in a research note on Thursday, January 22nd. BTIG Research reiterated a “neutral” rating on shares of InMode in a research report on Monday, January 26th. Finally, UBS Group dropped their target price on shares of InMode from $16.25 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued 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.

InMode Trading Up 0.3%

INMD opened at $15.12 on Tuesday. The company has a fifty day moving average price of $14.66 and a two-hundred day moving average price of $14.69. InMode Ltd. has a 1-year low of $13.14 and a 1-year high of $19.78. The company has a market cap of $955.74 million, a P/E ratio of 7.00 and a beta of 2.19.

InMode Company 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.