InMode (NASDAQ:INMD) Hits New 12-Month Low After Analyst Downgrade

InMode Ltd. (NASDAQ:INMD - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Monday after Barclays lowered their price target on the stock from $34.00 to $33.00. Barclays currently has an overweight rating on the stock. InMode traded as low as $17.61 and last traded at $17.72, with a volume of 764898 shares trading hands. The stock had previously closed at $17.92.

Several other research firms have also issued reports on INMD. Needham & Company LLC reaffirmed a "hold" rating on shares of InMode in a report on Tuesday, April 9th. UBS Group upped their price target on shares of InMode from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, InMode presently has an average rating of "Hold" and a consensus price target of $32.80.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Exchange Traded Concepts LLC bought a new position in InMode during the 3rd quarter valued at about $27,000. Brown Brothers Harriman & Co. purchased a new stake in InMode during the first quarter valued at approximately $41,000. Carmel Capital Partners LLC purchased a new stake in InMode during the third quarter valued at approximately $36,000. Newbridge Financial Services Group Inc. acquired a new position in InMode during the 3rd quarter valued at approximately $40,000. Finally, Principal Securities Inc. acquired a new position in InMode during the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 68.04% of the company's stock.

InMode Stock Down 1.3 %

The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 7.69 and a beta of 2.16. The stock's 50 day moving average price is $21.62 and its two-hundred day moving average price is $22.22.

InMode (NASDAQ:INMD - Get Free Report) last released its quarterly earnings data on Tuesday, February 13th. The healthcare company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.05. The company had revenue of $126.80 million during the quarter, compared to analysts' expectations of $124.77 million. InMode had a net margin of 40.22% and a return on equity of 29.80%. The firm's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.69 earnings per share. On average, analysts predict that InMode Ltd. will post 2.04 earnings per share for the current fiscal year.

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.