A significant shift in institutional investment is underway as Allianz Asset Management GmbH recently decreased its stake in InMode Ltd. (NASDAQ:INMD), signaling notable movements within the healthcare sector’s financial landscape.
According to its latest Form 13F filing with the SEC, Allianz Asset Management GmbH strategically trimmed its holdings by 28.5% in the first quarter. This adjustment resulted in the institutional investor holding 48,250 shares of the innovative healthcare company’s stock, following the sale of 19,231 shares during the reporting period. As of its most recent SEC filing, Allianz Asset Management GmbH’s remaining stake in InMode was valued at a substantial $856,000.
This move by Allianz is part of a broader pattern of institutional activity surrounding InMode. For instance, Strategic Global Advisors LLC incrementally increased its position in InMode by 3.0% in the fourth quarter, now owning 20,744 shares valued at $346,000. Similarly, Thrivent Financial for Lutherans also lifted its stake by 6.1% in the same quarter, bringing their total to 12,586 shares worth $210,000.
Further illustrating the dynamic investment environment, Covestor Ltd boosted its stake in InMode by 13.9% in the fourth quarter, reaching 5,936 shares valued at $99,000. The first quarter saw CWM LLC making a more aggressive move, increasing its holdings by 106.4% to 2,369 shares worth $42,000. Invesco Ltd. also expanded its presence, growing its position by 1.5% in the fourth quarter to 97,475 shares, valued at an impressive $1,628,000, underscoring varied confidence levels among major investors. Overall, institutional investors currently hold 68.04% of the stock.
Beyond institutional trading, InMode’s stock performance reflects its current market standing. The company’s shares opened at $13.66 on a recent Friday, navigating a 50-day moving average of $14.34 and a two-hundred-day moving average of $15.98. With a 12-month low of $13.14 and a high of $19.85, the company maintains a market capitalization of $863.45 million, a price-to-earnings ratio of 5.53, and a beta of 1.95, indicating its volatility relative to the broader market.
Recent analyst reports offer a mixed but generally cautious outlook on InMode. Barclays adjusted its target price from $24.00 to $21.00 while maintaining an ‘overweight’ rating. UBS Group, however, decreased its price objective from $19.00 to $16.25, setting a ‘neutral’ rating. Needham & Company LLC and Canaccord Genuity Group both reiterated ‘hold’ ratings, with the latter assigning a $15.00 price target. BTIG Research also shifted its stance from ‘buy’ to ‘neutral.’ Collectively, seven equities research analysts have rated the stock with a hold rating, and only one has issued a buy rating, contributing to an average ‘Hold’ rating and an average price target of $18.04, according to MarketBeat.com.
InMode Ltd. is a leading innovator in the medical aesthetics field, specializing in the design, development, manufacture, and marketing of minimally invasive aesthetic medical products. Their proprietary radiofrequency assisted lipolysis and deep subdermal fractional radiofrequency technologies enable a range of procedures, including liposuction with simultaneous skin tightening, body and face contouring, and ablative skin rejuvenation treatments, as well as solutions for women’s health conditions, showcasing their significant impact on the aesthetic medicine market globally.
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