InMode (NASDAQ:INMD) Stock Price Down 3.1%

Shares of InMode Ltd. (NASDAQ:INMD - Get Free Report) fell 3.1% on Thursday . The company traded as low as $16.36 and last traded at $16.38. 280,421 shares were traded during mid-day trading, a decline of 80% from the average session volume of 1,373,622 shares. The stock had previously closed at $16.90.

Analyst Ratings Changes

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

InMode Stock Performance

The company has a market capitalization of $1.41 billion, a PE ratio of 7.94 and a beta of 2.17. The company's fifty day moving average is $16.78 and its 200-day moving average is $18.36.

InMode (NASDAQ:INMD - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The healthcare company reported $0.34 earnings per share (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 period last year, the company earned $0.65 earnings per share. The business's revenue for the quarter was down 24.6% on a year-over-year basis. On average, sell-side analysts expect that InMode Ltd. will post 1.63 EPS for the current fiscal year.

Institutional Trading of InMode

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Systematic Financial Management LP grew its stake in InMode by 34.5% during the second quarter. Systematic Financial Management LP now owns 866,619 shares of the healthcare company's stock valued at $15,807,000 after acquiring an additional 222,532 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its position in shares of InMode by 2.9% during the second quarter. Disciplined Growth Investors Inc. MN now owns 804,958 shares of the healthcare company's stock valued at $14,682,000 after purchasing an additional 22,427 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of InMode by 24.3% during the second quarter. Mackenzie Financial Corp now owns 108,200 shares of the healthcare company's stock valued at $1,974,000 after purchasing an additional 21,165 shares in the last quarter. Doma Perpetual Capital Management LLC increased its holdings in shares of InMode by 210.7% in the second quarter. Doma Perpetual Capital Management LLC now owns 2,011,240 shares of the healthcare company's stock worth $36,685,000 after purchasing an additional 1,363,841 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of InMode in the second quarter worth about $4,104,000. 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.