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

Shares of InMode Ltd. (NASDAQ:INMD) hit a new 52-week low during trading 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.

Wall Street Analyst Weigh In

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

InMode Price Performance

The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 7.45 and a beta of 2.16. The company’s fifty day simple moving average is $20.32 and its two-hundred day simple moving average is $21.59.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Meitav Investment House Ltd. raised its holdings in shares of InMode by 22.1% in the fourth quarter. Meitav Investment House Ltd. now owns 1,940,890 shares of the healthcare company’s stock valued at $43,166,000 after purchasing an additional 351,863 shares during the last quarter. LSV Asset Management lifted its position in shares of InMode by 15.6% during the 4th quarter. LSV Asset Management now owns 1,940,071 shares of the healthcare company’s stock worth $43,147,000 after buying an additional 261,252 shares in the last quarter. Boston Trust Walden Corp purchased a new position in shares of InMode in the 4th quarter worth approximately $32,366,000. DDD Partners LLC grew its holdings in shares of InMode by 24.4% in the fourth quarter. DDD Partners LLC now owns 1,228,162 shares of the healthcare company’s stock valued at $27,314,000 after acquiring an additional 240,856 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd increased its position in shares of InMode by 44.0% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,080,000 shares of the healthcare company’s stock valued at $32,897,000 after acquiring an additional 330,000 shares during the last quarter. 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.