InMode (NASDAQ:INMD) Reaches New 1-Year Low at $16.72

InMode Ltd. (NASDAQ:INMD - Get Free Report)'s share price reached a new 52-week low on Thursday . The company traded as low as $16.72 and last traded at $17.01, with a volume of 535247 shares trading hands. The stock had previously closed at $17.24.

Analyst Ratings Changes

A number of research analysts recently weighed in on INMD shares. Needham & Company LLC reaffirmed a "hold" rating on shares of InMode in a research report on Tuesday, April 9th. UBS Group increased their price target on shares of InMode from $24.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, February 14th. Finally, Barclays cut their price target on shares of InMode from $34.00 to $33.00 and set an "overweight" rating for the company in a research note on Friday, April 12th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $32.80.

InMode Stock Performance

The company has a market capitalization of $1.46 billion, a P/E ratio of 7.47 and a beta of 2.20. The firm's fifty day moving average is $20.06 and its 200-day moving average is $21.40.

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

Institutional Investors Weigh In On InMode

Several hedge funds and other institutional investors have recently made changes to their positions in INMD. LSV Asset Management grew its holdings in shares of InMode by 3,557.6% during the 3rd quarter. LSV Asset Management now owns 1,678,819 shares of the healthcare company's stock valued at $51,137,000 after purchasing an additional 1,632,919 shares during the last quarter. Boston Trust Walden Corp acquired a new stake in InMode during the 4th quarter worth approximately $32,366,000. Jennison Associates LLC acquired a new stake in InMode during the 4th quarter worth approximately $15,101,000. Meitav Investment House Ltd. boosted its position in InMode by 58.2% during the 3rd quarter. Meitav Investment House Ltd. now owns 1,589,027 shares of the healthcare company's stock worth $49,448,000 after buying an additional 584,655 shares during the period. Finally, Federated Hermes Inc. boosted its position in InMode by 5,512.7% during the 4th quarter. Federated Hermes Inc. now owns 582,434 shares of the healthcare company's stock worth $12,953,000 after buying an additional 572,057 shares during the period. 68.04% of the stock is owned by institutional investors.

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.