InMode (NASDAQ:INMD) Reaches New 1-Year Low at $16.37

InMode Ltd. (NASDAQ:INMD) shares hit a new 52-week low on Thursday . The stock traded as low as $16.37 and last traded at $16.38, with a volume of 1090526 shares changing hands. The stock had previously closed at $18.12.

Analyst Ratings Changes

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

InMode Stock Up 3.6 %

The firm has a market capitalization of $1.44 billion, a PE ratio of 8.13 and a beta of 2.18. The stock has a 50-day moving average price of $18.03 and a 200 day moving average price of $19.80.

InMode (NASDAQ:INMD) last announced its quarterly earnings results on Thursday, May 2nd. The healthcare company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. InMode had a net margin of 35.81% and a return on equity of 20.83%. The business had revenue of $80.28 million during the quarter, compared to the consensus estimate of $80.10 million. As a group, equities analysts predict that InMode Ltd. will post 1.35 earnings per share for the current fiscal year.

Institutional Trading of InMode

Several institutional investors have recently added to or reduced their stakes in INMD. Trust Co. of Vermont boosted its position in InMode by 32.8% in the 4th quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock valued at $48,000 after buying an additional 536 shares during the period. CWM LLC grew its stake in InMode by 38.3% during the 4th quarter. CWM LLC now owns 2,454 shares of the healthcare company’s stock worth $55,000 after purchasing an additional 680 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in InMode by 9.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the healthcare company’s stock worth $165,000 after purchasing an additional 691 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in InMode by 2.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,643 shares of the healthcare company’s stock valued at $793,000 after purchasing an additional 701 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its stake in shares of InMode by 69.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,200 shares of the healthcare company’s stock valued at $49,000 after buying an additional 900 shares during the period. Institutional investors and hedge funds own 68.04% of the company’s stock.

About InMode

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.