InMode (NASDAQ:INMD) Reaches New 52-Week Low at $16.82

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Barclays dropped their target price on InMode from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Needham & Company LLC reissued a “hold” rating on shares of InMode in a research report on Tuesday, April 9th. Finally, UBS Group raised their target price on shares of InMode from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.80.

InMode Price Performance

The firm’s 50 day moving average is $20.32 and its two-hundred day moving average is $21.59. The firm has a market capitalization of $1.44 billion, a P/E ratio of 7.45 and a beta of 2.16.

InMode (NASDAQ:INMD) last released its quarterly earnings data on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share 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 for the quarter, compared to analyst estimates of $124.77 million. During the same period in the previous year, the business earned $0.69 EPS. InMode’s revenue for the quarter was down 5.1% compared to the same quarter last year. Analysts anticipate that InMode Ltd. will post 2.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in shares of InMode during the 3rd quarter worth about $1,930,000. Exchange Traded Concepts LLC bought a new position in InMode in the 3rd quarter valued at about $27,000. Handelsbanken Fonder AB lifted its position in InMode by 35.4% during the third quarter. Handelsbanken Fonder AB now owns 17,823 shares of the healthcare company’s stock worth $543,000 after acquiring an additional 4,662 shares during the last quarter. KRS Capital Management LLC boosted its holdings in shares of InMode by 29.0% during the third quarter. KRS Capital Management LLC now owns 8,784 shares of the healthcare company’s stock worth $268,000 after acquiring an additional 1,975 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of InMode by 32.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 35,018 shares of the healthcare company’s stock worth $1,067,000 after acquiring an additional 8,667 shares during the period. 68.04% of the stock is owned by institutional investors and hedge funds.

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.