InMode (NASDAQ:INMD) Sets New 12-Month Low at $16.37

InMode Ltd. (NASDAQ:INMD)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $16.37 and last traded at $16.38, with a volume of 1090526 shares. The stock had previously closed at $18.12.

Analyst Ratings Changes

Several analysts recently issued reports on INMD shares. Needham & Company LLC restated a “hold” rating on shares of InMode in a report on Thursday, July 11th. Canaccord Genuity Group cut their target price on InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Barclays lowered their price target on InMode from $33.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, Jefferies Financial Group downgraded InMode from a “buy” rating to a “hold” rating and dropped their target price for the company from $21.00 to $19.00 in a research report on Tuesday, July 23rd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, InMode has an average rating of “Hold” and a consensus target price of $22.40.

InMode Stock Performance

The firm has a 50-day moving average price of $18.03 and a two-hundred day moving average price of $19.80. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 8.13 and a beta of 2.18.

InMode (NASDAQ:INMD) last released its quarterly earnings data on Thursday, May 2nd. The healthcare company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. The company had revenue of $80.28 million for the quarter, compared to analysts’ expectations of $80.10 million. InMode had a net margin of 35.81% and a return on equity of 20.83%. Research analysts anticipate that InMode Ltd. will post 1.35 earnings per share for the current year.

Institutional Trading of InMode

Institutional investors and hedge funds have recently bought and sold shares of the business. Boston Trust Walden Corp purchased a new stake in InMode in the 4th quarter valued at approximately $32,366,000. Swedbank AB purchased a new stake in InMode during the 1st quarter worth about $17,634,000. Jennison Associates LLC acquired a new stake in shares of InMode during the 4th quarter worth about $15,101,000. Federated Hermes Inc. grew its holdings in shares of InMode by 5,512.7% during the fourth quarter. Federated Hermes Inc. now owns 582,434 shares of the healthcare company’s stock worth $12,953,000 after buying an additional 572,057 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of InMode in the fourth quarter valued at approximately $8,890,000. Hedge funds and other institutional investors own 68.04% of the company’s stock.

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.