InMode (NASDAQ:INMD) Reaches New 52-Week Low - Here's Why

Shares of InMode Ltd. (NASDAQ:INMD - Get Free Report) reached a new 52-week low during trading on Monday . The company traded as low as $13.14 and last traded at $13.37, with a volume of 83802 shares traded. The stock had previously closed at $13.28.

Analyst Upgrades and Downgrades

Several analysts have weighed in on INMD shares. Robert W. Baird downgraded shares of InMode from an "outperform" rating to a "neutral" rating and dropped their target price for the stock from $22.00 to $16.00 in a research report on Monday, April 28th. UBS Group cut their target price on InMode from $19.00 to $16.25 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Canaccord Genuity Group lowered their price target on InMode from $17.00 to $15.00 and set a "hold" rating for the company in a research report on Tuesday, April 29th. Jefferies Financial Group dropped their price target on InMode from $16.00 to $15.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Finally, Needham & Company LLC restated a "hold" rating on shares of InMode in a research note on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $18.54.

InMode Trading Down 0.1%

The company has a 50-day simple moving average of $14.51 and a 200 day simple moving average of $16.53. The firm has a market cap of $838.80 million, a PE ratio of 5.70 and a beta of 1.98.

InMode (NASDAQ:INMD - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $77.87 million for the quarter, compared to analysts' expectations of $82.21 million. InMode had a return on equity of 17.17% and a net margin of 44.79%. The business's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 EPS. On average, equities analysts expect that InMode Ltd. will post 1.75 earnings per share for the current year.

Institutional Investors Weigh In On InMode

Institutional investors have recently bought and sold shares of the company. CWM LLC boosted its holdings in shares of InMode by 106.4% during the 1st quarter. CWM LLC now owns 2,369 shares of the healthcare company's stock worth $42,000 after purchasing an additional 1,221 shares during the last quarter. Orion Capital Management LLC acquired a new position in InMode during the fourth quarter worth $65,000. Summit Securities Group LLC purchased a new stake in InMode in the 1st quarter valued at $70,000. SBI Securities Co. Ltd. acquired a new stake in shares of InMode in the 4th quarter worth $87,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of InMode by 26.2% during the 4th quarter. Farther Finance Advisors LLC now owns 5,555 shares of the healthcare company's stock worth $93,000 after acquiring an additional 1,154 shares during the period. 68.04% of the stock is currently owned by institutional investors and hedge funds.

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.

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