InMode (NASDAQ:INMD) Reaches New 1-Year Low at $16.82

InMode Ltd. (NASDAQ:INMD) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $16.82 and last traded at $17.04, with a volume of 220546 shares changing hands. The stock had previously closed at $17.36.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on INMD. UBS Group upped their price objective on shares of InMode from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Barclays reduced their price objective on shares of InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of InMode in a research note on Tuesday, April 9th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.80.

InMode Stock Down 1.9 %

The company has a market cap of $1.43 billion, a PE ratio of 7.55 and a beta of 2.16. The stock’s 50 day simple moving average is $20.57 and its two-hundred day simple moving average is $21.69.

InMode (NASDAQ:INMD) last released its quarterly earnings data on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. InMode had a net margin of 40.22% and a return on equity of 29.80%. The company had revenue of $126.80 million during the quarter, compared to analyst estimates of $124.77 million. During the same quarter in the prior year, the business earned $0.69 earnings per share. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. Analysts forecast that InMode Ltd. will post 2.04 EPS for the current year.

Institutional Investors Weigh In On InMode

A number of large investors have recently added to or reduced their stakes in the company. Whalen Wealth Management Inc. grew its holdings in InMode by 10.6% during the 1st quarter. Whalen Wealth Management Inc. now owns 10,378 shares of the healthcare company’s stock valued at $224,000 after purchasing an additional 991 shares in the last quarter. Kercheville Advisors LLC grew its holdings in InMode by 2.7% during the 1st quarter. Kercheville Advisors LLC now owns 102,375 shares of the healthcare company’s stock valued at $2,212,000 after purchasing an additional 2,700 shares in the last quarter. Absher Wealth Management LLC grew its holdings in InMode by 8.2% during the 1st quarter. Absher Wealth Management LLC now owns 29,531 shares of the healthcare company’s stock worth $638,000 after acquiring an additional 2,231 shares in the last quarter. Kirr Marbach & Co. LLC IN grew its holdings in InMode by 3.4% during the 1st quarter. Kirr Marbach & Co. LLC IN now owns 92,541 shares of the healthcare company’s stock worth $2,000,000 after acquiring an additional 3,079 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in InMode by 74.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 98,089 shares of the healthcare company’s stock worth $2,120,000 after acquiring an additional 41,806 shares in the last quarter. 68.04% of the stock is owned by institutional investors and hedge funds.

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.