InMode (INMD) activist shareholder Doma Perpetual Capital Management said Tuesday that it sent a letter to the company's board asking it to approve and execute a 10% buyback in Q4 and another 10% in Q1.
Doma said the InMode board must work to "return the cash sitting on the balance sheet" as "there is no business justification" for the company to maintain 53% of its current market capitalization in cash.
InMode didn't immediately respond to a request for comment from MT Newswires.
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