InMode (NASDAQ:INMD) Sets New 12-Month Low at $15.80

InMode Ltd. (NASDAQ:INMD)’s stock price hit a new 52-week low on Monday . The company traded as low as $15.80 and last traded at $15.83, with a volume of 158083 shares. The stock had previously closed at $16.12.

Analysts Set New Price Targets

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

InMode Stock Performance

The firm’s 50 day simple moving average is $17.79 and its 200-day simple moving average is $19.55. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 7.64 and a beta of 2.18.

InMode (NASDAQ:INMD) last announced its earnings results on Thursday, August 1st. The healthcare company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.04). The firm had revenue of $102.60 million for the quarter, compared to analyst estimates of $104.81 million. InMode had a net margin of 35.81% and a return on equity of 20.83%. InMode’s revenue for the quarter was down 24.6% compared to the same quarter last year. During the same period last year, the firm earned $0.65 earnings per share. As a group, equities analysts anticipate that InMode Ltd. will post 1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On InMode

Large investors have recently made changes to their positions in the business. Nordea Investment Management AB increased its holdings in shares of InMode by 161.1% in the 1st quarter. Nordea Investment Management AB now owns 361,701 shares of the healthcare company’s stock valued at $7,853,000 after purchasing an additional 223,191 shares during the period. Principal Securities Inc. acquired a new position in shares of InMode in the 4th quarter valued at about $32,000. Duality Advisers LP acquired a new position in shares of InMode in the 4th quarter valued at about $1,773,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of InMode in the 1st quarter valued at about $959,000. Finally, Doma Perpetual Capital Management LLC acquired a new position in shares of InMode in the 4th quarter valued at about $2,991,000. Institutional investors and hedge funds 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.