InMode (NASDAQ:INMD) Reaches New 1-Year Low – What’s Next?

InMode Ltd. (NASDAQ:INMD)’s stock price hit a new 52-week low on Thursday . The company traded as low as $15.17 and last traded at $15.18, with a volume of 1564329 shares traded. The stock had previously closed at $15.44.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on INMD shares. Canaccord Genuity Group dropped their target price on shares of InMode from $21.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Barclays dropped their price target on InMode from $33.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Needham & Company LLC reiterated a “hold” rating on shares of InMode in a research report on Thursday, July 11th. Finally, Jefferies Financial Group cut InMode from a “buy” rating to a “hold” rating and dropped their target price for the stock from $21.00 to $19.00 in a research report on Tuesday, July 23rd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, InMode has an average rating of “Hold” and a consensus price target of $22.40.

InMode Price Performance

The firm’s 50-day moving average price is $16.53 and its 200-day moving average price is $17.82. The stock has a market cap of $1.27 billion, a P/E ratio of 7.22 and a beta of 2.17.

InMode (NASDAQ:INMD) last posted its earnings results on Thursday, August 1st. The healthcare company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). InMode had a return on equity of 21.00% and a net margin of 35.81%. The firm had revenue of $102.60 million during the quarter, compared to analysts’ expectations of $104.81 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share. InMode’s quarterly revenue was down 24.6% on a year-over-year basis. Sell-side analysts expect that InMode Ltd. will post 1.63 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Trust Co. of Vermont boosted its holdings in InMode by 32.8% during the 4th quarter. Trust Co. of Vermont now owns 2,168 shares of the healthcare company’s stock valued at $48,000 after acquiring an additional 536 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of InMode by 9.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the healthcare company’s stock valued at $165,000 after purchasing an additional 691 shares during the period. Newbridge Financial Services Group Inc. grew its holdings in shares of InMode by 69.2% in the fourth 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 last quarter. Hohimer Wealth Management LLC increased its stake in InMode by 6.5% in the 1st quarter. Hohimer Wealth Management LLC now owns 14,923 shares of the healthcare company’s stock worth $322,000 after buying an additional 906 shares during the period. Finally, Headlands Technologies LLC lifted its holdings in InMode by 118.2% during the 1st quarter. Headlands Technologies LLC now owns 1,916 shares of the healthcare company’s stock valued at $41,000 after buying an additional 1,038 shares in the last quarter. Institutional investors own 68.04% of the company’s stock.

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.