InMode (NASDAQ:INMD) Reaches New 52-Week Low at $15.80

InMode Ltd. (NASDAQ:INMD) shares 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 changing hands. The stock had previously closed at $16.12.

Wall Street Analyst Weigh In

INMD has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Thursday, July 11th. Jefferies Financial Group downgraded InMode from a “buy” rating to a “hold” rating and decreased their price target for the company from $21.00 to $19.00 in a research note on Tuesday, July 23rd. Barclays cut their price objective 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, Canaccord Genuity Group decreased their target price on shares of InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.40.

InMode Stock Up 0.6 %

The firm has a fifty day moving average of $17.66 and a 200-day moving average of $19.45. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 7.61 and a beta of 2.18.

InMode (NASDAQ:INMD) last released its quarterly 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). InMode had a return on equity of 20.83% and a net margin of 35.81%. The firm had revenue of $102.60 million for the quarter, compared to analyst estimates of $104.81 million. During the same period last year, the firm earned $0.65 EPS. The company’s quarterly revenue was down 24.6% compared to the same quarter last year. As a group, research analysts forecast that InMode Ltd. will post 1.35 EPS for the current fiscal year.

Institutional Trading of InMode

Several institutional investors and hedge funds have recently modified their holdings of INMD. Trust Co. of Vermont lifted its stake 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 in the last quarter. CWM LLC grew its position in InMode by 38.3% during the fourth quarter. CWM LLC now owns 2,454 shares of the healthcare company’s stock valued at $55,000 after acquiring an additional 680 shares during the period. Allspring Global Investments Holdings LLC increased its stake in InMode by 9.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the healthcare company’s stock worth $165,000 after acquiring an additional 691 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of 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. grew its holdings in shares of InMode by 69.2% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,200 shares of the healthcare company’s stock worth $49,000 after purchasing an additional 900 shares during the period. 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.