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

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

Analysts Set New Price Targets

INMD has been the subject of a number of research reports. Needham & Company LLC reissued a "hold" rating on shares of InMode in a research report on Thursday, July 11th. Jefferies Financial Group cut InMode from a "buy" rating to a "hold" rating and reduced their price target for the stock from $21.00 to $19.00 in a research report on Tuesday, July 23rd. Canaccord Genuity Group reduced their price target on InMode from $21.00 to $16.00 and set a "hold" rating for the company in a research report on Friday, July 12th. Finally, Barclays reduced their price target on InMode from $33.00 to $29.00 and set an "overweight" rating for the company in a research report on Monday, July 15th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. 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 business has a 50 day moving average price of $17.14 and a 200 day moving average price of $18.82. The firm has a market capitalization of $1.32 billion, a P/E ratio of 7.42 and a beta of 2.18.

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

Hedge Funds Weigh In On InMode

Institutional investors have recently made changes to their positions in the business. Doma Perpetual Capital Management LLC increased its stake in InMode by 70.0% during the second quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company's stock valued at $36,685,000 after acquiring an additional 828,122 shares during the period. Swedbank AB bought a new position in InMode during the first quarter valued at about $17,634,000. Federated Hermes Inc. increased its stake in InMode by 191.9% during the second quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company's stock valued at $20,520,000 after acquiring an additional 739,629 shares during the period. Acadian Asset Management LLC increased its stake in InMode by 63.6% during the second quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company's stock valued at $20,502,000 after acquiring an additional 437,122 shares during the period. Finally, Norges Bank bought a new position in InMode during the fourth quarter valued at about $8,890,000. 68.04% of the stock is currently owned by institutional investors.

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.