InMode (NASDAQ:INMD) Hits New 1-Year Low at $15.41

InMode Ltd. (NASDAQ:INMD)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $15.41 and last traded at $15.58, with a volume of 40794 shares. The stock had previously closed at $15.62.

Analyst Ratings Changes

Several equities analysts have recently weighed in on INMD shares. Jefferies Financial Group cut 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. Canaccord Genuity Group decreased their price target on InMode from $21.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Barclays dropped 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of InMode in a research note on Thursday, July 11th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, InMode has a consensus rating of “Hold” and an average target price of $22.40.

InMode Price Performance

The stock has a 50-day moving average price of $17.10 and a 200-day moving average price of $18.80. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 7.58 and a beta of 2.18.

InMode (NASDAQ:INMD) last posted its quarterly earnings results on Thursday, August 1st. The healthcare company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). InMode had a net margin of 35.81% and a return on equity of 20.83%. The business had revenue of $102.60 million during the quarter, compared to the consensus estimate of $104.81 million. During the same quarter last year, the company posted $0.65 EPS. The firm’s revenue was down 24.6% on a year-over-year basis. Equities analysts forecast that InMode Ltd. will post 1.35 earnings per share for the current year.

Institutional Trading of InMode

Several institutional investors have recently added to or reduced their stakes in INMD. Doma Perpetual Capital Management LLC increased its position in InMode by 70.0% during the 2nd quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company’s stock worth $36,685,000 after buying an additional 828,122 shares during the period. Swedbank AB bought a new position in InMode during the first quarter worth about $17,634,000. Federated Hermes Inc. raised its stake in InMode by 191.9% in the 2nd quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock worth $20,520,000 after purchasing an additional 739,629 shares in the last quarter. Acadian Asset Management LLC raised its stake in InMode by 63.6% in the 2nd quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company’s stock worth $20,502,000 after purchasing an additional 437,122 shares in the last quarter. Finally, Norges Bank bought a new stake in InMode in the 4th quarter valued at about $8,890,000. 68.04% of the stock is currently owned by institutional investors.

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.