InMode (NASDAQ:INMD) Hits New 12-Month Low - What's Next?

InMode Ltd. (NASDAQ:INMD - Get Free Report) hit a new 52-week low on Friday . The company traded as low as $13.67 and last traded at $13.78, with a volume of 482347 shares changing hands. The stock had previously closed at $14.05.

Analyst Ratings Changes

A number of analysts have commented on the stock. Jefferies Financial Group reduced their price objective on shares of InMode from $16.00 to $15.00 and set a "hold" rating for the company in a research note on Monday, April 14th. BTIG Research lowered shares of InMode from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 29th. Needham & Company LLC reaffirmed a "hold" rating on shares of InMode in a research report on Monday, April 28th. Barclays reduced their target price on InMode from $29.00 to $24.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Finally, Baird R W cut InMode from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $18.54.

InMode Stock Performance

The firm has a market cap of $848.90 million, a PE ratio of 5.71 and a beta of 1.98. The stock's 50 day simple moving average is $14.66 and its 200 day simple moving average is $16.73.

InMode (NASDAQ:INMD - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The healthcare company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.14). The company had revenue of $77.87 million for the quarter, compared to analysts' expectations of $82.21 million. InMode had a net margin of 45.91% and a return on equity of 18.25%. The firm's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 earnings per share. As a group, analysts anticipate that InMode Ltd. will post 1.75 earnings per share for the current year.

Institutional Investors Weigh In On InMode

Institutional investors have recently added to or reduced their stakes in the stock. Strategic Global Advisors LLC boosted its position in InMode by 3.0% in the fourth quarter. Strategic Global Advisors LLC now owns 20,744 shares of the healthcare company's stock valued at $346,000 after buying an additional 604 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of InMode by 6.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 12,586 shares of the healthcare company's stock worth $210,000 after purchasing an additional 721 shares during the period. Covestor Ltd boosted its holdings in InMode by 13.9% during the 4th quarter. Covestor Ltd now owns 5,936 shares of the healthcare company's stock valued at $99,000 after acquiring an additional 723 shares during the period. American Century Companies Inc. boosted its holdings in InMode by 6.1% during the 1st quarter. American Century Companies Inc. now owns 18,994 shares of the healthcare company's stock valued at $337,000 after acquiring an additional 1,087 shares during the period. Finally, Farther Finance Advisors LLC raised its position in InMode by 26.2% in the 4th quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company's stock valued at $93,000 after purchasing an additional 1,154 shares in the last quarter. 68.04% of the stock is owned by hedge funds and other 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.