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

InMode Ltd. (NASDAQ:INMD - Get Free Report) was the target of unusually large options trading activity on Tuesday. Stock traders purchased 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 large investors have recently made changes to their positions in the business. Barclays PLC raised its position in InMode by 113.5% during the third quarter. Barclays PLC now owns 169,630 shares of the healthcare company's stock worth $2,876,000 after acquiring an additional 90,173 shares during the period. Atlas Legacy Advisors LLC purchased a new position in InMode in the 4th quarter valued at about $848,000. Townsquare Capital LLC boosted its holdings in InMode by 43.2% in the 4th quarter. Townsquare Capital LLC now owns 17,029 shares of the healthcare company's stock worth $284,000 after buying an additional 5,137 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in InMode by 17.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 21,208 shares of the healthcare company's stock worth $354,000 after buying an additional 3,193 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of InMode by 14.6% during the fourth quarter. Principal Financial Group Inc. now owns 99,562 shares of the healthcare company's stock valued at $1,663,000 after acquiring an additional 12,661 shares during the last quarter. 68.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

INMD has been the subject of a number of recent analyst reports. Barclays raised their price objective on InMode from $26.00 to $29.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. Jefferies Financial Group cut their price objective on shares of InMode from $16.00 to $15.00 and set a "hold" rating on the stock in a report on Monday, April 14th. BTIG Research cut shares of InMode from a "buy" rating to a "neutral" rating in a research note on Tuesday. Baird R W lowered shares of InMode from a "strong-buy" rating to a "hold" rating in a report on Monday. Finally, Robert W. Baird cut InMode from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $22.00 to $16.00 in a research note on Monday. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $19.38.

InMode Stock Down 0.3 %

Shares of INMD stock traded down $0.05 during mid-day trading on Tuesday, hitting $14.22. 955,270 shares of the stock were exchanged, compared to its average volume of 1,188,613. The company has a market cap of $988.78 million, a PE ratio of 6.05 and a beta of 1.96. The firm has a fifty day moving average of $17.25 and a 200 day moving average of $17.63. InMode has a 52-week low of $13.68 and a 52-week high of $19.85.

InMode Company Profile

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.

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